Markets gapped down on the open with steady pressure noted into mid-morning. The midday drift and new afternoon lows were met with muted interest so the bulls were able to able to put together a late day reversal with higher volume into the close.Gold extended its BO gains as the $USD continued its slide. Commodities, many of which were extended, came under pressure, carving out evening star reversal patterns - agchem (MOO), steel (SLX) , coal (KOL). Financials held up fairly well.
No economic data tomorrow ahead of the long weekend, so it could be a slow day. ADSK - big earnings beat in after hours will be on my focus list tomorrow.
5 comments:
jamie good to see you back .... how was vacay???
looks like i overshot on that gold short.... lmfao... 700 was a stretch but 850 is still a nice winner.
Hey Lars,
Vacation was good. Nice call on the gold short. I've been long ABX in the retirement account since early May when it took out $30.00, partialed at $35.00, and trying to hang on for a tag of $40.00.
TI scanner is a great tools, thanks for the recommendations!
Stock Hunter,
Yeah, TI is a real time saver when it comes to finding the best trading opportunities.
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