As I was first putting this post together, the weekly jobless claims came out. Last week’s was an historic record. This week’s puts it to shame.
Prior to the above, the ES has been slowly trying to mount a retracement from yesterday’s devastation, but it fell to pieces when the joblessness news hit the wires.
One item holding together is gold, which I switched from bearish to bullish on precisely twenty-four hours ago. I will say, however, that there’s a ceiling of resistance at about 1630 it needs to conquer.
With so much going on, it’s easy to miss posts, so I just wanted to mention in passing, in case you didn’t see it recently, that SlopeCharts now has crossover indicators as well as custom dates.
