Gold: $1,723.00 | Silver: $25.18 | Oil: $60.23 | Bond: $131.23 | Dollar: $92.844
● The Dow closed up 453.40 at 33,072.88 with 1.131 vs. 1.131 billion shares traded the previous day.
● The NASDAQ closed up 161.05 at 13,138.73 with 5.599 vs. 5.599 billion shares traded the previous day.
● The S&P closed up 65.02 at 3,974.54
The Dow, NASDAQ, NDX 100, and the SPX rejected lower price with volume contracting. Asia traded higher last night. Europe is higher this morning while our S&P futures are up 5 points.
The 10 Year Note is down 13 ticks at $155.13 and the 30 Year Bond is down one point and 10 ticks at $155.13. They both traded higher Intra-day yesterday with volume then gave it up on price. This morning they are lower with volume contracting. I expect we will see them reject lower price.
The Dollar is trading flat at $92.844; this took out its swing area and looks that it will trade to the $93.200 area.
We had all the Indices reject lower price yesterday. I expect that we will be making a run for the highs in the next few weeks.
There will be no update this afternoon.
Equity Positions and Charts
We bought GOLD (Barrick Gold) at $20.08 or better. This closed at $20.00 (+$0.27). The stop is $18.49. This traded lower with volume contracting and is trading in a confirmed ABC up with a price projection of $22.61.
We bought the TLT (20 Year + bond) at $135.62 or better. This closed at $136.66 (-$0.48). The stop is $132.02. This traded higher intra-day with volume then gave it up on price. This morning it is trading lower. I expect we will see this reject lower price. This is looking to trade to the $149.00 area.
We bought the TMF (Direxion 3x Bull 20 Year + bond) at $22.06 or better. This closed at $22.51 (-$0.30). The stop is $19.54. This traded higher intra-day with volume then gave it up on price. This is trading lower this morning. I expect we will see this reject lower price. This is looking to trade to the $30.00 area.
STOP POLICY: ALL STOPS ARE INTRADAY STOPS UNLESS NOTED OTHERWISE
TIMER DIGEST SIGNALS: BOND - Bullish GOLD - BULLISH S&P 00 - Bearish
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