Round And Round She Goes

Market makers have had their pound of flesh this summer and something tells me they aren’t done with us just yet. I would proceed with caution as we’ve seen a succession of signals which were reversed almost instantly. That means sideways tape and that is in general very bad medicine. If you must play on the equities side then allow me to show you the errors of your ways:

Fortunately we got a long signal via a GARB-L (FO-L on the ES) which saved us a few handles ahead of our previous stop which was at the top of the Friday candle. So far so good but we are now supposed to be long and looking at that cluster of NLBLs I cannot help but wonder how much whipsaw we’ll have to endure. Frankly speaking I would be more excited about a short near that NLBL at 15466. Or stay out altogether – after all there are easier fish to fry out there – more on that a bit later.

The Dollar has had its fun courtesy of the 25-hour (remember yesterday’s updates – ahaa??) but it is now running into daily resistance en masse. There’s a NLBL and right above a fast falling 25-day SMA. Good luck pushing through all that – if it does I want to be long but until then I have to try a short here.

Inside day on gold and there is additional context on the hourly and daily panels. Good stuff!

Okay – one more freebie – but keeping the best for my intrepid subs: Here’s the AUD/JPY which is approaching its 90 mark and it’s obvious how that’ll be a very important inflection point – both on the daily and weekly.

More goodies below – please step into my lair:

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Alright – enough charts. Now go and enjoy your summer for crying out loud. Here – let me help you out:

Awesome tune – it’s playing at the lair all day and my neighbors are gathering torches and pitchforks as I’m typing this.

Cheers,