On a macro basis: The decent trade above 2661 (-.5 of a tic per/hour) brought in 3805 tics of higher trade. I noted the week of April 26th we also broke back above a significant formation on the Weekly charts at 2779 that warned of continued strength in general—we have seen 3687 tics of this. We left a medium-term bullish reversal below on 6/1 that warned of renewed strength for days/weeks. We have seen 3399 tics from 3067 so far. All the above are ON HOLD.
On a shorter-term basis: The trade below 5186 (+4 tics per/hour) has brought in 1574 tics of the pressure warned about below so far. This is ON HOLD. The decent trade above 3857(-1 tic per/hour) warns of decent strength, likely for 500-600 tics (+). There is a steep, small formation below coming in at 3885 (+2.5 tics per/hour starting at 11:00am), a break below which will warn of pressure. WARNING: as we have traveled out into this apex, this increases the likelihood of false breakouts to the upside and downside, and an additional likelihood of continued consolidation—you might use less volume for a few days. I warned in the Post Market Synopsis that today has a good likelihood of seeing range expansion--we have already exceeded yesterday's range.
NOTE: this is just a small portion of the market calls I provide my clients twice daily in the Natural Gas and Energy/Gold complex. 'Decent penetrations' are specific amounts provided to clients daily as well. If you are interested, please feel free to reach out.
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