Topping Formation ???

05012015Let’s bring this up to date.

ES trading sideways here at a top. tops take longer to form than bottoms. This is twice that it has tested both resistance and support. Look for it to move to support. Might want to sell half at this point and set a close stop on the short. May get a runner to the downside.

CL is looking good for a call. Still no clear resistance. look for a pull back then move higher.

GC Head and shoulders forming. See what happens with the neck line bottom.

USD/CAD Making a move to the support area. When it gets here see how it behaves before next position. Now would be a good time to get rid of half of the short.

My overall thoughts on the markets. ES is going to be more quiet on the top here. Fed has too much control. I think topping pattern and then down. However the wildcard is the Fed coming to the rescue. Read above on the rest. Happy trading!!