For the last four days, the SPYs have been in a very tight range
Yesterday, prices gapped lower and then had a later day rally. But, again, note the tight price spread. The reason is
Prices are bumping into topside resistance at very important levels.
The IEF's continue in their downward trajectory, moving in a disciplined manner lower.
Gold is making highs. However, notice the last two days prices have printed a very tight range (weak bars) with little volume follow-through. Ideally, we'd like to see some stronger bars and stronger volume.
Oil is still in a trading range (A). However, it is currently moving higher (B) between lines (C) and (D). Also note there is a slight lift to the MACD. However, until the fundamental news starts to become a bit more bullish and supply becomes a bit more constrained, we probably won't see much upward price action.
Copper is still in an uptrend (A) and prices are consolidating between lines (B) and (C). Notice the EMAs (D) are all moving higher with the shorter above the longer (D). Also note the MACD is neutral.
