Article Summary:
We are about 90 Minutes into The NYSE Open, with Equities and The indices largely “Flat” in early Trading as the Futures Block-Orders still come into The Markets. Gold and Crude Oil see Depreciation overnight and well as The Dollar and Yen
Article Content:
Greetings again, Everyone!
We are about 90 Minutes into The NYSE Open, with Equities and The indices largely “Flat” in early Trading as the Futures Block-Orders still come into The Markets.
Gold and Crude Oil see Depreciation overnight and well as The Dollar and Yen seeing general Strength… but eclipsed for a moment on The Vapid CPI Data Points earlier, as well as the more Recent Current Account Deficit…
( Increasing Deficit?… Really?… What a Shock!…)
OK… pardon my “CVJ Guys” Humor… and for those of you wondering… I sent them away for some Psychological Conditioning in the Deserts here in Arizona… 
We check in with Gold and Crude on the IntraDay Levels, as EIA Crude Inventories Data sees Crude down 3.9M Barrels which is Offset by Gasoline Builds which showed a massive increase of 3.4M Barrels.
Give the Captures a Click, and Post-Time is 15:10 GMT.
Crude sells off on the Initial Data, as Bearish Momentum already in existence fuels the Behavior.
A Clip of the ’s Area on the Correction may induce additional selling Pressure… as a Bounce from Dynamic Support around .00 is Holding for now.
Gold also looks to Its own Dynamic Support at 7.98/928.00 in The Immediate-Term, as we have even more IntraDay Consolidation here.
Price needs to Clip the 9.00 Area in The Near-Term to really Negate the Consolidation for a solid Bearish View… and the “Ambiguity” and “Noise” of The Dollar right now is not assisting Matters in this Case.
The Fiber still retains an Anchor with our Uptrending Hourly Channel, as Price is held by the 1.3870’s Resistance.
Depreciation will see a fall through 1.3850’s Near-Term Support, and onto our Daily Head and Shoulders Neckline Static Support at the 1.3800 Handle.
Bullish Sentiment will find Fuel if Price Clips the 1.3896 Dynamic Resistance, as well as the 1.3930’s Static Resistance for Trend Resumption in the Near-Term.
As always, I will have more Updates for you as we move on with our Volatile Day, and an interesting Note here…
We have a spmewhat rare “Quadruple Witching Week” !… Equity Options, Index Options, Futures, and Futures Options all facing Expiry as the Second Quarter comes to a Close. Institutional Motives will look to Settle their Books and do plenty of Re-Positioning… so this is certainly something to be Mindful of as we move along!
Please join me for another Visit soon!
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