The past twelve hours have been just bizarre. The newest little war in the mideast broke out yesterday after the close, but the ES and NQ didn’t seem to care for many hours. Crude oil, on the other hand, went absolutely ballistic, as did (later) precious metals. And yet since peaking in the wee hours of the morning, gold has been just pooing all over the place, and the the once-glorious drops in e-mini (like down over 20 points on the ES) have turned into green (just like some Slopers adroitly pointed out it would early this morning).
How about lil’ ol’ Tim? Well, I had a rough morning since I’m so heavily short commodities, but since the aforementioned pooing has been taking place, it’s been getting better. Interestingly, looking at the Dow Composite, there are two ways to view it (which is maddening): on the one hand, we DID, at long last, break the “ichthus” pattern I’ve been yammering about since the Kennedy assassination, but on the other hand, as I’m typing this, that’s a pretty solid-ass hammer pattern, indicating the short-term bottom is in.
My sage counsel and advice? Three words: We. Shall. See.
