ES S&P 500
No real change from last weeks look. I think the Fed and Oil is trying to make moves to save this level. Personally I feel they will fail just not sire how long it will take. I am out of everything at present.
Same as before, The are 1.37 is holding. I keep hoping for it to come below. When I say hope there is no technical reason for it to hold. Pretty simple. If the 1.37 does not hold then see how long it trades at the 1.34 area.
Interesting thing this week as Saudi Arabia, Iran and Russia talked about holding this record level of production. Let’s see who blinks. I say this area holds unless they turn down the spickets. You can see the levels that are in play now. See if it can form a bottom. Another note I received a signal to short today. I chose not to take it because I think they will manipulate. I also would like to see more room to move. These are excuses. We shall see if my feelings are warranted. It sure makes a trading system hard to measure when I do this kind of thing.
No changes really from last week. It did move above the level I discussed however came right back to hold 1240. I should be long this but missed it the day I received the signal. I missed the GDX also. Man I hate it when that happens.