Last Kiss Goodbye?

In the past four years the sad reality for the bears has been that of repeated failure at important inflection points. The very day we start seeing a painful and sudden breach through a technically critical long term support zone will be the day when I start questioning the continuation this bull market. This may happen tomorrow morning or it may happen a few years from now – until it finally does happen however I remain cautious when it comes to selling against the bulls. Once again a door has opened and the onus is on the bears to walk though it.

I don’t have much to add to what I already proposed in my morning briefing. But let’s revisit the spoos as we’re actually being graced with a fine setup on the daily panel:

As you can see we may be dealing with a last kiss goodbye and since the NYSE open the bulls have not been able (or interested) in pushing this thing above the 100-day SMA. This may bestow us with an inside day setup tomorrow and that’s great news considering the implications.

Very same idea on the YM futures – good to see everything is in sync.

Very interesting configuration on the Dollar side as it already retested both its SMAs. I think if the 25-day SMA holds then we may be good to go for a stab higher (and given recent correlations that may benefit equities – although never bet on correlations – take each chart on its own – it had to be said).

Silver – wonderful RTV Buy + Inside Day setup on the daily. Love it!

EUR/USD also sitting on its 100-day SMA thinking about where to head next. If it can jump the 25-day then I think it’ll bust higher – so watch this one and the DX chart.

Quite a bit more waiting below – excellent day for my hardcore steel rats:

It's not too late - learn how to consistently trade without worrying about the news, the clickbait, the daily drama and 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.

Please login or subscribe here to see the remainder of this post.

Did I promise too much? Sometimes I think I’m spoiling you rats too much… 😉

Cheers,