The February Gold contract has fired 2 Day ROC Buy, 90-10 High Continuation & Reversal, and Low Breakout Continuation Setup signals for today's trading. The 2 Day ROC Buy signal implies that today's principal trade direction should be to the upside. The 90-10 High Continuation & Reversal signal is telling us to look for morning follow through on the strong close, but to expect a likely reversal once the initial move has topped. The Low Breakout Continuation Setup signal implies significant downside IF yesterday's low happens to be taken out. Cycle Indicators (chart at right) are moving into a region where short term cyclical tops often form, but the more immediate trend is to higher prices. Odds favor continued upside in today's early trading. Buy the break of yesterday's 1684.9 high, or even earlier if price can demonstrate strength above 1678.3 level of the Daily Pivot. But stand prepared to exit or even reverse if we get appropriate price reversal patterns and/or Oscillator Divergence near important resistance levels. Our Normal High Range Projection level of 1693.3 or the Extended High Range Projection level of 1700.4 would be likely areas for such a reversal to take place, as would be a test and failure of yesterday's high.

Forward this to friends and colleagues!     Disclaimer: trading involves significant risk and is not suitable for everyone.

The August Gold contract has fired 2 Day ROC Buy, 90-10 High Continuation & Reversal, and Momentum Pinball Sell signals for today's trading. The 2 Day ROC Buy signal implies that today's principal trade direction should be to the upside. The 90-10 High Continuation & Reversal signal is telling us to look for morning follow through on the strong close, but to expect a likely reversal once the initial move has topped. The Momentum Pinball Sell signal suggests that IF the first hour's low happens to be broken, the market is telling us something completely different than originally assessed, and we'd want to consider a short position. Cycle Indicators (chart at right) appear as if a short term cyclical low has recently been marked. Odds favor continued upside in today's early trading. Buy the break of yesterday's 1610.0 high, or even earlier if price can demonstrate strength above 1598.7 level of the Daily Pivot. But stand prepared to exit or even reverse if we get appropriate price reversal patterns and/or Oscillator Divergence near important resistance levels. Our Normal High Range Projection level of 1624.1 or the Extended High Range Projection level of 1636.4 would be likely areas for such a reversal to take place, as would be a test and failure of yesterday's high.

Forward this to friends and colleagues!     Disclaimer: trading involves significant risk and is not suitable for everyone.

The August Gold contract has fired 90-10 High Continuation, Low Breakout Continuation Setup, and Momentum Pinball Sell signals for today's trading. The 90-10 High Continuation signal is fired when the day closes within the top 10% of the day's range. It tells us that yesterday's late day move higher is likely to continue on into today. The Low Breakout Continuation Setup signal implies significant downside IF yesterday's low happens to be taken out. The Momentum Pinball Sell signal also suggests that IF the first hour's low is broken, the market is suggesting something entirely different than indicated by the 90-10, and we'd want to be thinking on the short side. Cycle Indicators (chart at right) have moved into a region where short term cyclical lows often form. Initial odds favor continued upside in today's early trading. Buy the break of yesterday's 1589.0 high with a stop just below the 1581.4 level of the Daily Pivot. Price strength above the DP may provide clues for earlier entry. The Momentum Pinball Sell signal, on the other hand, suggests we consider the short side if the first hour's low happens to be broken to the downside.

Forward this to friends and colleagues!     Disclaimer: trading involves significant risk and is not suitable for everyone.