Considering how quiet it is on the market landscape, you would think there were absolutely no unknowns or uncertainties. Yet there’s a lot going on. There’s the impeachment vote today (a foregone conclusion, I confess, as is the Senate trial), retail sales reports on Friday, and the big Chinese tariffs question, resolved by Sunday. The ES was poised for a breakout last night, but it was repelled.
My only bullish position is actually in gold miners, which I established a couple of days ago. Gold is starting to shape up decent, but let’s see if it holds, as obviously metals have been struggling for weeks now. My semi-obsession with miners actually came out because of the failure in the DUST pattern. Below we see the short-term action with /GC.