Good Lord, it’s the end of the week already! It seems to have flown back in the blink of an eye. I actually like weekends even less now, because I’m having such a ball with this market.
In spite of the steady slide of the /ES, shown above, we are rather green on equities this morning, with averages overall up about 1%. There’s nothing specifically bottom-like about the /ES, although the bulls out there can take solace that the /NQ, shown below, might have turned the corner for now, and has actually spent the week just kind of grinding around. Note the “higher low” for the week.
Precious metals have had a particularly good week. it’s cool to glance over at the gold futures and see a leading “3” as the price quote.
Palladium, which I own, is having an especially good open, popping higher by 2.5%.
The unfortunate thing about palladium, longer-term, is that it’s had a very rough road. Gold has been slam-dunk bullish, silver has been bullish in fits and starts, but poor palladium seems to have been struggling for a long while. It’s nice to see it get a day in the sun.
The bulls look like they’re running with this day, so I’d better go tidy up my positions.
