|15 min ES. Notice light blue dashed line. held. WICK though.|
Two things happend today which should stand out in your mind.
1. Bonds broke down with equities
2. S&P & NDX took out previous day lows
@ precisely 9:37 eastern US Dollar futures reared their ugly head instantly sending the commodity complex sharply lower. Gold and silver saw the greatest sustained selling pressure, gold was off 100 points from opening prices at it’s worst level..eventually basing around 1690 (i like it long over 1700 into tomorrow)… Silver also fell considerably. I am in the camp silver finds a bid into thursday as well
|NQ highlight of chart price action|
|5 min zoomed ES.. notice reaction to |
light blue line b4 Afternoon sell off
What i have found with CL, especially on days where volatility is high in the morning; crude will rally into pit close as traders cover their positions. This works on the opposite side as well, crude up strong into the morning hours, pit close could see profit taking.