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San Diego | gold went up 5 straight weeks thru last friday, then shook the tree yesterday after making a monday new high of the move at 1279.8.
it looked like the gold market makers in the option pits could have been shaking the tree ahead of op-ex today, though crude oil did start a down move first yesterday.
it terms of usa futures, what has been working is going inverse the ES (spx stock index) with gold or bonds (ZB).. in other words if stock market is selling then money is flowing into bonds and gold.
so yesterday, when gold dropped and bonds were weak, it could have been signaling a bottom in the stock market for a ES bounce on short covering into the fomc decision tomorrow!
cheers! | |
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futures op-ex today in metals,nat gas,unleaded
