Monday Pivots

Good Morning!  S&P pivots are below and we’re consolidating in the upper end of this V-shaped reversal area.  With a gun to my head, I’d have to say we continue higher this week – POMO style.

Technically, though, this would be the area where a continuation lower could/should happen 1315 – 1320.

Gold and Silver are weak this morning and dollar continues stronger.  I will update on these later, but it still looks as though high and tight consolidation is what’s happening, which is good.  2 days of backing and filling works off the overbought condition and prepares the metals for a better move higher.

Have a good week and trade the extremes!

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About thefront9

Independent trader with a flexible approach to the markets. Position trading, swing trading and day trading using Futures, Equities and Options. This site is intended to help others (and myself) see what I see and to stay true to the discipline of making trades at the extremes. Contrarian and TastyTrade addict! Living in Texas with my family, helping others and maybe playing some golf from time to time makes life busy and great. Add a little music and humor and that just about sums it up. Trade the extremes and manage risk.....always!
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