Mini Flash Crash

That little AP hack apparently throw the tape into a tailspin there for a minute – hope none of you guys caught up in the resulting carnage. The good news is that the tape bounced back almost instantly across the board – of course that doesn’t really help you if your stop was swept just now. I wonder how the respective exchanges will handle this one.

Nothing much to add to what I already posted on equities – we got our VIX Buy Signal yesterday and this morning the NYSE TICK triggered a 95.96% trend day. Which means until we gather any information to the contrary it’s easy as she goes. Unfortunately I’m seeing almost zilch on the setup front tonight – here’s one measly chart that may be of interest:

Gold is painting an insde day but there’s not much else in terms of context, so I’m hesitant to use it as an entry. However if you are long from the first one four days ago (trigger at 1,395.2) then the current IP may be good for stop adjustment. If gold drops through 1,404 tomorrow then it’s passable to exit your open long trades. A push above 1,432.8 most likely leads us higher.

The greenback has been able to recover some territory in the past few days and before I call it a day I wanted to post a quick reminder that it’s approaching its diagonal resistance line again. This is one of the major LT setup of this year that I’m determined not to miss. A push above 83.5 may open the flood gates and lead to a massive short squeeze – until that happens let’s watch for signs of yet another reversal.

It’s not too late – learn how to consistently bank coin without news, drama, and all the misinformation. If you are interested in becoming a subscriber then don’t waste time and sign up here. The Zero indicator service also offers access to all Gold posts, so you actually get double the bang for your buck.

Cheers,