Lot of Smoke and Mirror

Dear Readers, A lot of smoke and mirror events seem to be going on in positioning markets before the announcement. Now GOLD EURO ENERGY are all up. Stocks up a bit and BONDs up a bit. There is something wrong with this, it does not add up. Considering the EURO hit important resistance and so did the GOLD as well as energy, it seems to me like market is playing an inflation game. That does not appear to be a immediate picture for me. I anticipate BONDS lower IR's higher. So could we see sharp turnaround in GOLD/EURO especially? I can not recommend any trades on this difficult trading day. Use best of what you have learned if you trade. Be most careful today. Good Trading

Limits

Dear Readers. Preliminary Limits.
qqqq 43.11 - 43.89
gld 63.51 - 64.83
fxe 129.64 - 130.33
uso 46.8 - 47.37
gg 26.63 - 27.86
TODAY COULD BE VOLATILE and 41.95 to 45.26 limits are possible on QQQQ?!Good Trading

No Pressure Anywhere

Dear Readers, It seems like markets have been put into the coma, by some future event. That event could be todyas FED IR announcment. We already stated that it is perhaps not a good news for Bonds and lesser good news for Stocks, it is also perhaps good to neutral to GOLD and Energy and really good news for $Dollar, even though initial reaction maybe exactly opposite to this outcome. BUY-SELL pressures are balanced on the low side, but the overall picture is slanted to bearish due to the elevated BUY-AVERAGEPRESSURE of SPX. GOod Trading.

USO OIL ETF Respects No Walls

Dear Readers, Nothing could hold down USOil ETF. These things do happen, once the shorts start covering, the opportunists start joining and that triggers more shortcovering and opportunistic longs ( cycle HA?). Well, Considering the oversold condition of USO and Energies this was not improbable, but I certainly did not think this was in cards today. GOod Trading

USO 47 A WALL?

Dear Readers at 47 we have a fifth resistance to USO ( this is usually level not reached on a daily bases). So we shell see what happens here. Good Trading

What is going on?

Dear Readers, what is happening is that markets are in suspension mode waiting important information to come out tomorrow. FED decisions Tomorrow, Employment numbers this Friday. So, there is no point for us to get overly excited and expand our "mental capital". Let us just sit and wait for the events to unfold. The real mark of a good trader is knowing when to do nothing... Good Trading.
NOTE: I apologize, the turn time for gold is 13:35ET not 14:35 as mistakenly posted below.

Limits

Dear Readers. Preliminiray limits.
QQQQ 43.82 - 43.53
GLD 64.38 - 63.40
USO 45.87(hit 3rd resistance 46.6) - 44.52
GG 27.45 - 26.77
FXE 130.07 - 129.83
Good Trading