He Does Have A Point
What can you say about the markets today? Is the entire world gearing up for college b-ball March Madness?
I took a couple of signals from the algorithm in gold today; stopped out on one, while the other made it back plus a few pennies [literally]. I still think we need to see 2 things before gold can put in a good rally.
The first is an Asian session sell-off. This market session rallies practically every single night; when they throw in the towel we are probably at the bottom.
The second thing is no large rallies until the shorts are trapped in the U.S. session and the market starts to climb in earnest after 11 AM and into the close. When we see these two things, I think the bottom is in [whenever that is; tonight, next week?].
Meanwhile in crude.
Ughhhhhhhhhhhhhhh!!
Not much more you can say; just a big bucket of slop. Tight range, traded to high and low and stuck up near the high for hours with no U.S. session range. YUCK. Hey, sometimes it happens.
Have a good day everyone.
-vegas
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