On a macro basis: We are in a bull trend. The decent trade above 2661 (-.5 of a tic per/hour) brought in 1544 tics of higher trade. The decent trade above 4012 (-1 tic per/hour) projects this upward 85 tics minimum 500 tics (+) maximum. We have attained 193 tics of this so far. These are ON HOLD.
On a shorter-term basis: On 8/9 we left a short-term bearish reversal above. Taking out the stop below 4093 (+1.1 tics per/hour) at 4050 brought in 233 tics of the pressure warned about. However, the break below 3855-37 and back above may bring in some short covering into the AM before (if) resuming lower trade. Decent trade above 4020 (+.6 of a tic per/hour starting at 9:00am) should bring in renewed strength. A maintained gap lower will leave a medium-term bearish reversal above that will warn of continued pressure, likely for days/weeks.
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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