Thank you very much;
you're only a step away from
downloading your reports.
Gold's Failed Gaps Up: We've Seen This Movie Before
That's distribution. And it's getting rid of weaker hands.
Rod David    

The following are the latest daily summaries of my ongoing intraday coverage, providing context to interpret price action. Any prices listed are for a contract's current "front month." Their direction tends to correlate with any ETFs listed for each.

Today's Highlight: Another failed opening gap on gold? That's not bullish... not yet, anyway. Similar action in March preceded the stock market's drop, which dumped enough ballast to launch a leg to April's new high.

Dollar Basket
Jun Contract DX; (NYSEARCA:UUP), (NYSEARCA:UDN)
Narrow ranging Monday helped to confirm that buyers aren't yet retaking control, while leaving the door open to a corrective dip that has no requirement for its timing.

Eurodollar
Jun Contract EC; (NYSEARCA:FXE)
Narrow ranging Monday helped to confirm that sellers aren't yet retaking control, while leaving the door open to a corrective bounce that has no requirement for its timing.

Gold
Jun Contract GC; (NYSEARCA:GLD)
Sunday night's rally to 1303.00 resistance extended slightly higher intraday to 1306.00 -- touching downtrending resistance from the two prior failed opening gaps up -- before reversing back down and filling the gap back to Friday's 1298.00 close.

Silver
May Contract SI; (NYSEARCA:SLV)
After dipping to 19.25 support Friday, Sunday night's rally attacked 19.75 resistance, before reversing back down to attack Friday's close. Trending down Tuesday would be credible for retesting prior lows.

30-Year Treasury
Jun Contract US; (NYSEARCA:TLT)
Monday's narrow opening range gave way to fresh lows testing 106-30 support. A bounce back to last week's 108-00 area high is likely so long as this dip isn't extended any deeper.

Crude Oil
May Contract CL; (NYSEARCA:USO)
Having held a test of its 101.40 pullback limit Friday, the rally was free to resume, producing fresh recovery highs Monday testing 103.00.

Natural Gas
May Contract NG; (NYSEARCA:UNG), (NYSEARCA:UNL)
Monday didn't delay reacting up from Friday's corrective dip to its 4.41 pullback limit, further suggesting that much more substantial rally is preparing to launch.

Editor's note: Rod's analytical techniques are designed to efficiently identify targets and turning points for any liquid stock or market in any time frame. He applies his techniques live intraday, primarily to S&P futures, at RodDavid .com.
< Previous
  • 1
Next >
No positions in stocks mentioned.
The information on this website solely reflects the analysis of or opinion about the performance of securities and financial markets by the writers whose articles appear on the site. The views expressed by the writers are not necessarily the views of Minyanville Media, Inc. or members of its management. Nothing contained on the website is intended to constitute a recommendation or advice addressed to an individual investor or category of investors to purchase, sell or hold any security, or to take any action with respect to the prospective movement of the securities markets or to solicit the purchase or sale of any security. Any investment decisions must be made by the reader either individually or in consultation with his or her investment professional. Minyanville writers and staff may trade or hold positions in securities that are discussed in articles appearing on the website. Writers of articles are required to disclose whether they have a position in any stock or fund discussed in an article, but are not permitted to disclose the size or direction of the position. Nothing on this website is intended to solicit business of any kind for a writer's business or fund. Minyanville management and staff as well as contributing writers will not respond to emails or other communications requesting investment advice.

Copyright 2011 Minyanville Media, Inc. All Rights Reserved.
Gold's Failed Gaps Up: We've Seen This Movie Before
That's distribution. And it's getting rid of weaker hands.
Rod David    

The following are the latest daily summaries of my ongoing intraday coverage, providing context to interpret price action. Any prices listed are for a contract's current "front month." Their direction tends to correlate with any ETFs listed for each.

Today's Highlight: Another failed opening gap on gold? That's not bullish... not yet, anyway. Similar action in March preceded the stock market's drop, which dumped enough ballast to launch a leg to April's new high.

Dollar Basket
Jun Contract DX; (NYSEARCA:UUP), (NYSEARCA:UDN)
Narrow ranging Monday helped to confirm that buyers aren't yet retaking control, while leaving the door open to a corrective dip that has no requirement for its timing.

Eurodollar
Jun Contract EC; (NYSEARCA:FXE)
Narrow ranging Monday helped to confirm that sellers aren't yet retaking control, while leaving the door open to a corrective bounce that has no requirement for its timing.

Gold
Jun Contract GC; (NYSEARCA:GLD)
Sunday night's rally to 1303.00 resistance extended slightly higher intraday to 1306.00 -- touching downtrending resistance from the two prior failed opening gaps up -- before reversing back down and filling the gap back to Friday's 1298.00 close.

Silver
May Contract SI; (NYSEARCA:SLV)
After dipping to 19.25 support Friday, Sunday night's rally attacked 19.75 resistance, before reversing back down to attack Friday's close. Trending down Tuesday would be credible for retesting prior lows.

30-Year Treasury
Jun Contract US; (NYSEARCA:TLT)
Monday's narrow opening range gave way to fresh lows testing 106-30 support. A bounce back to last week's 108-00 area high is likely so long as this dip isn't extended any deeper.

Crude Oil
May Contract CL; (NYSEARCA:USO)
Having held a test of its 101.40 pullback limit Friday, the rally was free to resume, producing fresh recovery highs Monday testing 103.00.

Natural Gas
May Contract NG; (NYSEARCA:UNG), (NYSEARCA:UNL)
Monday didn't delay reacting up from Friday's corrective dip to its 4.41 pullback limit, further suggesting that much more substantial rally is preparing to launch.

Editor's note: Rod's analytical techniques are designed to efficiently identify targets and turning points for any liquid stock or market in any time frame. He applies his techniques live intraday, primarily to S&P futures, at RodDavid .com.
< Previous
  • 1
Next >
No positions in stocks mentioned.
The information on this website solely reflects the analysis of or opinion about the performance of securities and financial markets by the writers whose articles appear on the site. The views expressed by the writers are not necessarily the views of Minyanville Media, Inc. or members of its management. Nothing contained on the website is intended to constitute a recommendation or advice addressed to an individual investor or category of investors to purchase, sell or hold any security, or to take any action with respect to the prospective movement of the securities markets or to solicit the purchase or sale of any security. Any investment decisions must be made by the reader either individually or in consultation with his or her investment professional. Minyanville writers and staff may trade or hold positions in securities that are discussed in articles appearing on the website. Writers of articles are required to disclose whether they have a position in any stock or fund discussed in an article, but are not permitted to disclose the size or direction of the position. Nothing on this website is intended to solicit business of any kind for a writer's business or fund. Minyanville management and staff as well as contributing writers will not respond to emails or other communications requesting investment advice.

Copyright 2011 Minyanville Media, Inc. All Rights Reserved.
Gold's Failed Gaps Up: We've Seen This Movie Before
That's distribution. And it's getting rid of weaker hands.
Rod David    

The following are the latest daily summaries of my ongoing intraday coverage, providing context to interpret price action. Any prices listed are for a contract's current "front month." Their direction tends to correlate with any ETFs listed for each.

Today's Highlight: Another failed opening gap on gold? That's not bullish... not yet, anyway. Similar action in March preceded the stock market's drop, which dumped enough ballast to launch a leg to April's new high.

Dollar Basket
Jun Contract DX; (NYSEARCA:UUP), (NYSEARCA:UDN)
Narrow ranging Monday helped to confirm that buyers aren't yet retaking control, while leaving the door open to a corrective dip that has no requirement for its timing.

Eurodollar
Jun Contract EC; (NYSEARCA:FXE)
Narrow ranging Monday helped to confirm that sellers aren't yet retaking control, while leaving the door open to a corrective bounce that has no requirement for its timing.

Gold
Jun Contract GC; (NYSEARCA:GLD)
Sunday night's rally to 1303.00 resistance extended slightly higher intraday to 1306.00 -- touching downtrending resistance from the two prior failed opening gaps up -- before reversing back down and filling the gap back to Friday's 1298.00 close.

Silver
May Contract SI; (NYSEARCA:SLV)
After dipping to 19.25 support Friday, Sunday night's rally attacked 19.75 resistance, before reversing back down to attack Friday's close. Trending down Tuesday would be credible for retesting prior lows.

30-Year Treasury
Jun Contract US; (NYSEARCA:TLT)
Monday's narrow opening range gave way to fresh lows testing 106-30 support. A bounce back to last week's 108-00 area high is likely so long as this dip isn't extended any deeper.

Crude Oil
May Contract CL; (NYSEARCA:USO)
Having held a test of its 101.40 pullback limit Friday, the rally was free to resume, producing fresh recovery highs Monday testing 103.00.

Natural Gas
May Contract NG; (NYSEARCA:UNG), (NYSEARCA:UNL)
Monday didn't delay reacting up from Friday's corrective dip to its 4.41 pullback limit, further suggesting that much more substantial rally is preparing to launch.

Editor's note: Rod's analytical techniques are designed to efficiently identify targets and turning points for any liquid stock or market in any time frame. He applies his techniques live intraday, primarily to S&P futures, at RodDavid .com.
< Previous
  • 1
Next >
No positions in stocks mentioned.
The information on this website solely reflects the analysis of or opinion about the performance of securities and financial markets by the writers whose articles appear on the site. The views expressed by the writers are not necessarily the views of Minyanville Media, Inc. or members of its management. Nothing contained on the website is intended to constitute a recommendation or advice addressed to an individual investor or category of investors to purchase, sell or hold any security, or to take any action with respect to the prospective movement of the securities markets or to solicit the purchase or sale of any security. Any investment decisions must be made by the reader either individually or in consultation with his or her investment professional. Minyanville writers and staff may trade or hold positions in securities that are discussed in articles appearing on the website. Writers of articles are required to disclose whether they have a position in any stock or fund discussed in an article, but are not permitted to disclose the size or direction of the position. Nothing on this website is intended to solicit business of any kind for a writer's business or fund. Minyanville management and staff as well as contributing writers will not respond to emails or other communications requesting investment advice.

Copyright 2011 Minyanville Media, Inc. All Rights Reserved.
EDITOR'S PICKS
 
WHAT'S POPULAR