|15 min ES. Notice light blue dashed line. held. WICK though.|
1. Bonds broke down with equities
2. S&P & NDX took out previous day lows
@ precisely 9:37 eastern US Dollar futures reared their ugly head instantly sending the commodity complex sharply lower. Gold and silver saw the greatest sustained selling pressure, gold was off 100 points from opening prices at it's worst level..eventually basing around 1690 (i like it long over 1700 into tomorrow)... Silver also fell considerably. I am in the camp silver finds a bid into thursday as well
|NQ highlight of chart price action|
Crude oil sold down sharply below the 105.50 level eventually finding a bid @ 104.84. This level eventually became the head of an inverse H&S. shoulders being 105.75.. the price lifted out of the right shoulder into 106's forming a consolidation pattern before the a squeeze into floor close sent prices over 107.10.
|5 min zoomed ES.. notice reaction to |
light blue line b4 Afternoon sell off