Our Post-Market Reports offer reliable analysis of the short and longer term trends, and also reviews any key details of the intraday session, while also providing forward-looking and actionable analysis.
What a wild end to a great week in the market. The Fed definitely provided some great volatility Wednesday and into the end of the week, which will continue to spill over into next week’s trading. As a matter of fact, I think next week could be extremely important to how the markets play out the rest of the month and heading into October.
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.
Another day, another great reaction to our key program levels in Gold! The 1324 pivot was THE line in the sand, and the algos hit it hard twice this morning, with the second test leading to a great sell-off to 1305.80 — a move of 18.20 points! At $100 per point, that move is worth $1820 per contract traded. Not bad for a day’s work.
On September 11 I wrote, “if Gold gets a breakout from the current range, look for price to not only trade a range that equals its average of 26 points, …
Gold has been unusually quiet lately, but could be on the verge of a major breakout opportunity soon, as early as tonight. Crude continues to sit on major support and also formed an extremely narrow range today, which could provide some fuel for a solid breakout.
