On a macro basis: The trade above 2661 (-.5 of a tic per/hour) brought in 7003 tics of higher trade. We left a medium-term bullish reversal below on 6/1 that warned of renewed strength for days/weeks. We have seen 6597 tics from 3067 so far. The trade above 3108-09 attained 6555 tics. On 2/15 we left a moderate bullish formation below that warned of higher trade for days—we saw 5092 tics from the 4572 close. The decent trade above 4962 (-1 tic per/hour) projects this upward 200 tics minimum, 740 tics (+) maximum—we rallied 4702 tics. The break above 5047 also projects this upward 1300 tics (+).We have attained 4617 tics. All of the above are ON HOLD.
On a shorter-term basis: We held exhaustion below with a 5324 low and rallied 4095 tics. The decent trade above 5559 has brought in 3860 tics. These are ON HOLD. The decent trade below 8724 (+11.5 tics per/hour) put this below a steep formation that projects this downward. We have seen 1020 tics from the pullback to where it came in at 8745.The decent trade below 8027 (+6.5 tics per/hour) projects this down further. We have seen 402 tics so far. I cautioned that we may be in a lower timeframe last stretch of the structure down from the highs and would be aware of possible exhaustion levels below at 7662-606, 7416-268, 6913-871 and lower. We held the upper of these with a 7645 low and bounced 289 tics before rolling over and are now holding it again with a 7625 low. Decent trade above 7743 (-11 tics per/hour starting at 10:00am) will warn of decent short covering but note this is a steep line. If we break above here decently and back below decently, look for decent pressure. Today has a good likelihood of seeing range expansion.
NOTE: this is just a small portion of the market calls I provide my clients twice daily in the Natural Gas and Energy/Gold complex. 'Decent penetrations' are specific amounts provided to clients daily as well. If you are interested, please feel free to reach out.
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