This Pattern Is Now In Progress
A surprise ending closed
out the broader index futures on today’s session. The
June S&P 500
futures
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been bleeding red most of the day, put in a double bottom formation and broke
above the 1080 peak. The S&P futures rallied to the close and ended positive up
2.00 at 1085.0.
The tech heavy June Nasdaq 100
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also put in a late-day rally. A nice “textbook perfect” example of a double
bottom was in place prior to the close on the intraday, and the rally from a
break above the peak was the trigger point.
The June dollar
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another loss on the trading day to make a 20-day low and set its self up for a
Possible Turtle Soup Plus One spread strategy.
The recent terror threats have caused many
investors and traders to move into gold. June gold has been rallying for
many months and today hit another high. June gold
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2.20 or .70% to $318.30. July silver
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silver gave up .50 to close at 4.94. July copper
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to close higher at 71.
In the energies today crude oil was the only
loser at the end of the session. July crude
oil
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July heating oil
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rose .13 to end at 67.49 cents a barrel. July unleaded gasoline
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July
natural gas
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The grains lost ground today due to trade
pressure, but soybeans rallied higher. July soybeans
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$4.93 up 2 1/2 cents or .51%. July wheat
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$2.69 a bushel and July corn
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3.25 cents or 1.54%.