c505218304b50c59c3659f6dda43bae7-links-0–>So the market dropped quite dramatically last Friday after 4pm –which is a bit unusual. Of course the news was a military coup happening in Turkey. By 7:30 — the SPY ETF was down quite significantly — and even though the ES futures weren’t technically trading — the equivalent level was around ES2035.
Well, news reversed — as the government regained control — and the market continues following our expected pattern view, albeit slightly slower than expected. The E-mini futures hovered in the upper 2050s and lower 2060s for most of the day.
Meanwhile, gold and silver showed weakness and has been testing our patience. It’s still technically within our pattern expectations, but definitely taking longer than expected.
Silver would be in trouble if we broke below 19.5 and stayed there.
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