On a macro basis: The decent trade above 2661 (-.5 of a tic per/hour) brought in 3805 tics of higher trade. I noted the week of April 26th we also broke back above a significant formation on the Weekly charts at 2779 that warned of continued strength in general—we have seen 3687 tics of this. We left a medium-term bullish reversal below on 6/1 that warned of renewed strength for days/weeks. We have seen 3399 tics from 3067 so far. All the above roll into the (J) and are ON HOLD.
On a shorter-term basis: I CAUTIONED we held exhaustion at 5532-51 with a 5572 high and rolled over 1690 tics. On 2/3 we also left a bearish reversal above. We attained 1063 tics from the 4937 open. These roll into the (J) and are ON HOLD. On 2/15 we left a moderate bullish formation below as well, that warned of higher trade for days. This is ON HOLD. The decent break below 4538 (+4 tics per/hour) now warns of decent pressure, but the moderate formation below that is on hold, has not yet been negated, so we really need a decent break below 4308 to open up the downside more. If we break back above 4622 (+4 tics per/hour starting at 10:00am) decently, resume bullishness and look for decent strength. Decent trade below 4437 (-2 tics per/hour starting at 10:00am) should also bring in pressure. Decent trade below 4056 (+1 tic per/hour starting at 8:00am) will project this downward 720 tics minimum, 1250 tics (+) maximum; but if we break below here decently and back above decently, look for decent short covering.
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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