If Stocks Tank, Shouldn’t Gold Soar?
By Jeff Reckseit
BMO Commentary
Go through the Morning Checklist to see how the Markets are currently doing and what Economic Events may affect the Markets today.
0800.ET
World Markets are Up slightly … US Futures/Markets are Up as well.
QQQQ/SPY are currently Trading at 44.50/ 111.41
QQQQ Resistance is at 44.68, then 44.92
QQQQ Support is at 44.14, then 43.80, then 43.61, then 43.40, then 43.17, then 42.8x, then 42.3x
Use these levels to look for turn Signals .. or the lack of them for continued follow-through.
Subscribers, read what I wrote last night and look at the Annotated Charts I posted then for guidance.
Use any break-outs of that outer Range as well.
There are some Big Economic Events out this morning starting at 0830.ET .. be watching for them!
The MBA Purchase Applications Report was released at 0700.ET and was “bad”.
Metals and Energy Commodities are Up while the US-Dollar is Down right now.
Yesterday we got some consolidation . . still looking for a Break-Out . . probably to the Down-side for the Short-Term.
Also, don’t forget that this is Options Expiration week . . Friday is the end of November options.
AMC Commentary
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