Welcome back everyone!
Today's trading session was nothing short of spectacular. We witnessed the Emini and Nasdaq hit both targets right at the opening, followed by a dramatic sell-off that retreated all the way back to the long levels, where they later found support. Gold, interestingly, diverged from this pattern, rallying robustly and maintaining its strength relative to the indices. This performance, while somewhat expected, deviates from the trend observed in recent months. Oil, too, had a dynamic session, initially surging to meet the long target and setting a high, before reversing back to the long level and then rebounding through the targets. These massive movements made for an exhilarating day in the markets!
Looking forward, I am eager to see this level of volatility persist. The specific direction of the market is less important to me, as I approach each session fully prepared to engage in both long and short positions, depending on the market's structure and dynamics.
Now, let's delve into a critical observation that could be the first hint of a potential sell-off. This development might indicate that a significant high has been established, marking a pivotal moment in the market:
Now let’s move on to my analysis for tomorrow.
Let’s dive in!