Before the market opened, I was watching the /ES level 4440 (pretty damned unlucky value in Chinese culture there……….) as the face-off point.
Happily, this level has been breached, as this later-in-the-morning screenshot indicates:
I am also pleased to see that my one and only long position, gold, is going what it’s supposed to do. Specifically, yesterday, in the throes of a plunge in GLD, I mentioned how it was simply testing its new support line (which it did so with great aplomb). Better yet, today we have an island reversal pattern. I’m feeling good about gold.
I shall close with a lovely photo of the Oscars from a simpler, more innocent time, when physical beauty was held in high regard (Audrey Hepburn and Grace Kelly) as opposed to our new enlightened age and modern hosts.
