Friday the 13th.....

It's been a busy week - Rather than get tangled into saying something that doesn't make sense, I'm simply providing the EOD snapshot report for now.  

Will do a weekly analyses over the weekend.  

Cheers!!!

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Gold Putting In a Round Bottom

Picture perfect round bottom....  

Buy long term "except" there is some historical resistance/support levels to the left

Intraday trade accordingly


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Zoom in of the retest...

Commitment of Traders Review 1/12/2017

Over the past couple of years as the ES has flattened, there appears to be less open interest.

Long: Managed Money and Asset Managers

Short: Dealers and Small Speculators

Nasdaq

Large Speculators & Asset Managers have been steadily reducing their long positions

Dealers have been reducing their short positions

The pattern appears reverse of the 2016 rally

Gold

2016 appears to have been an interesting year with the run up in gold and back down low

A bottom in gold prices is appearing

During this cycle, prices correlated with long holdings by Large Speculators & Managed Money

Inverse of Large Speculators & Managed Money were the Producers and Swap Dealers

Gold is at a key price 1198, we need to pay attention to what happens here

Oil

Prices are following what Long holdings of large Speculators/Managed Money

A price bottom has appeared

Large Speculators/Managed Money are increasing long holdings

Natural Gas

Price bottom has appeared

Price at key support/resistance range

Managed Money has gone from a short to long position

Commercials inversely selling

Soybeans

After recovering from last years price spike, soybean prices are climbing

Managed Money and Large Speculators increasing long positions

Spring Wheat (MW)

AGWEB reports producers still sitting on old wheat, acreage growing wheat at 10 year low

Managed Money and Large Speculators increasing long positions.

Wheat (ZW)

Prices continue to fall.

Managed money continues to reduce long commitments

TRUMP'S FIRST NEW'S CONFERENCE & OIL ZIG ZAGS

TRUMP NEWS CONFERENCE EFFECT - THERE WAS A HUGE SWING DURING TRUMP’S NEWS CONFERENCE.    BASED ON THE FOLLOWING VIEW, THE SWING WAS CAUSED BY AN OIL FLUSH THAT CARRIED THE MARKETS.

MP ACTION

- EQUITIES CONTINUE HUDDLING JUST BENEATH ALL TIME HIGHS

- GOLD FLIP CALL WAS INCORRECT

- OIL RESCUES TRAPPED BEARS

- NG IN RANGE

VOLUME

NQ & ES VOLUME LIGHTER THAN AVERAGE BUT STEADY

YM VOLUME AVERAGE (BUILDING SUPPORT)
Equities continue to consolidate - slowing down

PRICE ACTION

OIL - REJECTS ONE YEAR HIGHS

OIL APPEARS TO HAVE “CALMED DOWN” AFTER IT’S RECENT BRUSH WITH 1-YEAR HIGHS

RATIONALE EXISTS FOR LONG, CONSOLIDATING & SHORT TRADES

RESPECT FOR SMA 50 IS OBSERVED

FOLLOW SIGNALS ACCORDINGLY

GOLD: GRINDING HIGHER OR RTM SHORT?

GOLD 1 YEAR VIEW

• SHOWS POSSIBLE ROTATION LONG (OR)
• REVERSION SETUP FOR SHORT ENTRY

GOLD CONTINUES TO DEMONSTRATE GOOD SMA 50/200 TRIGGER SIGNALS (UNLESS FLOOR TRADER SUPPORT/RESISTANCE EXISTS)

PLAN:  CONTINUE IN-BALANCE “STAIR-STEPPING”  INTRADAY TRADING

Natural Gas (NG) Closes an Old Gap

Since the beginning of the new year, Natural gas has been selling off in a "determined way"

Yesterday, NG reached a key level closing a gap created around November 27/28th…

Flip to the long side is observed today

Watch to clear congestion to the left, then long to fill the 2016/2017 gap?

Plan - Intraday trade per in balance rules. Monitor for breakout long.

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