With the markets stuck in the 2465 to 2475 range for the whole week, there’s been virtually no movement.
On the other hand, without movement, calls and puts can’t change much in value. Only small methodical scalping will work in this environment.
Still, eventually, expecting a pullback to happen below 2460. Key is patience.
After topping out at 2480 – the market attempted twice in the 2477 region once on Tuesday and then again on Friday – but wasn’t able to get above that. After some consolidation, we should eventually get a C-wave down.
The previous S&P chart had us topping out at around 2480 – and so far that level has not been breached.
Ideally, I woudl like to see gold pullback below 1260 – currently at 1264.
silver starting to look better. Now we have 5 waves up with an a-b-c back down. There could be a potential buy point in silver in this region into next week. However, the overall pattern in silver doesn’t look so great.
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