“Strength does not come from winning. Your struggles develop your strengths. When you go through hardships and decide not to surrender, that is strength.” –Arnold Schwarzenegger
Notes for Tonight’s Newsletter:
· Gold triggers the entry SHORT from last night’s newsletter
· Crude Oil trades in the middle of the range we defined last night
· Mini-Russell keeps moving lower, we keep looking for selling opportunities
· 2 Major Red-Star News events on schedule for tomorrow
· Crude Oil Inventories tomorrow (Wednesday) at 10:30am EST
· Fundamental: Violence in Syria, combined with a growing concern over additional stimulus in Europe and Asia have traders seeking shelter in Gold Futures, which pushed prices to the highs of the range overnight.
· Technical: Technical clues on the chart continue to tell us to stay short on Gold futures. We have lower-lows and lower-highs on our anchor charts, the only challenge we have this week is staying patient for the best selling opportunities.
· Fundamental: A strong US-Dollar, combined with a slowdown in the global economy has speculators selling Crude Oil. Fresh violence in the Middle East threatens to push prices higher off the lows ahead of Wednesday’s Inventory report.
· Technical: Technical clues on the chart show us a bearish long-term-trend, however just recently we have seen a sideways-trading-range turning into consolidation with higher-lows and lower-highs. We are looking for selling opportunities at the highs of the ranges until we break this consolidation.
· Fundamental: Long-term investors appear to be taking-profit this week as new concerns over the global economy have trades waiting for more information until attempting another run at the all-time highs we saw a month ago.
· Technical: We have new lower-lows and lower-highs on the anchor charts, telling us there is a bearish trend. We are focused on selling retracements at this time, and our biggest challenge will be staying patient to wait for the best trading opportunities to get SHORT.
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