On a macro basis: The trade above 2661 (-.5 of a tic per/hour) brought in 7003 tics of higher trade. We left a medium-term bullish reversal below on 6/1 that warned of renewed strength for days/weeks. We have seen 6597 tics from 3067 so far. The trade above 3108-09 attained 6555 tics. On 2/15 we left a moderate bullish formation below that warned of higher trade for days—we saw 5092 tics from the 4572 close. All of the above are ON HOLD.
On a shorter-term basis: We were in a bearish correction/trend. The failure below 7010 warned we are likely in the last stretch of the move down from 9645—areas of possible exhaustion come in at 5439-346 and 4991-837 (more significant). This is now ON HOLD. We have held the upper of these with a 5325 low and have rallied 1056 tics. The decent trade above 5520 (-8.3 tics per/hour) warns of decent strength. We have seen 861 tics of this. If we fail back below decently, look for decent pressure. This will come in at 5329 (-8.3 tics per/hour starting at 8:00am).The maintained gap higher also is a sign of strength. We are now likely in a lower timeframe bullish correction against the move down from 9645. Areas of possible corrective exhaustion above come in at 6975, 7485, 7981-8111, and higher.
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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