On September 17 I wrote, “the total price range of the last three days in Gold has been just 33.30 points, but it has been averaging 50 points over a 3-day span. In essence, the small point range over the last 3 days forecasts a likely breakout and expansion ahead for Gold…If 1300 continues to hold, watch 1324 as a level the bulls need to convert. Above 1324 has 1335 and 1355.”
Whoa! Now THAT was a great Fed day! While all markets rallied big (except the Dollar Index), Gold had BY FAR the biggest day. Last night I wrote that I thought we’d see a major breakout opportunity in Gold, but I was leaning more to the downside. However, Gold took out the 1324 level that was important for the bulls, which ultimately paved the way to a massive 76-point rally.
The 60-minute chart below shows how the move unfolded on an hour-by-hour basis. Just a remarkable chart…and we were all over it.
Live Fed Day Analysis and Trades
Take a look at the video below, wherein I provide real-time analysis of today’s Fed action (and from the sound of it, I’m reporting from the Moon). I also take a couple of trades, which worked out nicely. Enjoy!
| Sep 18, 2013 | PivotBoss ADR METHOD TARGETS | ||||||||
| MONTHLY | WEEKLY | ||||||||
| AMR (10) | MH | ML | Range | AWR (5) | WH | WL | Range | ||
| E-Mini S&P 500 | 78.75 | 1723.25 | 1630.75 | 92.50 | 34.25 | 1723.25 | 1687.75 | 35.50 | |
| BULL | 1689.81 | 1709.50 | 1713.44 | 1722.00 | |||||
| BEAR | 1644.50 | 1664.19 | 1689.00 | 1697.56 | |||||
| E-Mini NASDAQ 100 | 147.00 | 3229.75 | 3076.00 | 153.75 | 74.00 | 3229.75 | 3156.25 | 73.50 | |
| BULL | 3186.25 | 3223.00 | 3211.75 | 3230.25 | |||||
| BEAR | 3082.75 | 3119.50 | 3155.75 | 3174.25 | |||||
| Crude Oil Futures | 9.41 | 110.70 | 104.21 | 6.49 | 5.10 | 108.76 | 104.94 | 3.82 | |
| BULL | 111.27 | 113.62 | 108.77 | 110.04 | |||||
| BEAR | 101.29 | 103.64 | 103.66 | 104.94 | |||||
| Gold Futures | 141.4 | 1416.4 | 1291.5 | 124.9 | 57.7 | 1368.2 | 1291.5 | 76.7 | |
| BULL | 1397.6 | 1432.9 | 1334.8 | 1349.2 | |||||
| BEAR | 1275.0 | 1310.4 | 1310.5 | 1324.9 | |||||
| E-Mini S&P 400 | 69.2 | 1256.7 | 1169.1 | 87.6 | 33.6 | 1256.7 | 1229.2 | 27.5 | |
| BULL | 1221.0 | 1238.3 | 1254.4 | 1262.8 | |||||
| BEAR | 1187.5 | 1204.8 | 1223.1 | 1231.5 | |||||
| mini Dow Futures | 700 | 15645 | 14761 | 884 | 296 | 15645 | 15370 | 275 | |
| BULL | 15286 | 15461 | 15592 | 15666 | |||||
| BEAR | 14945 | 15120 | 15349 | 15423 | |||||
| Russell 2000 Mini | 60.1 | 1078.3 | 1006.2 | 72.1 | 28.5 | 1078.3 | 1049.5 | 28.8 | |
| BULL | 1051.3 | 1066.3 | 1070.9 | 1078.0 | |||||
| BEAR | 1018.2 | 1033.2 | 1049.8 | 1056.9 | |||||