Quirks and Reversals in the Quad Market Grid Gold Oil Dollar

Bycjrosen

The weaker than expected GDP report this morning spiked volatility higher in our quad-market grid.

Let’s highlight these movements and the big reversals taking place today:

In our quad-market grid, we see @ES (E-mini US Stock Market Futures), @GC Gold, @CL Crude Oil and @DX the US Dollar Index.

Surprisingly, the US Equity Market has been flat, flat, flat (sideways) at the same time Crude Oil was collapsing.

See the prior update about “Crude Oil Collapsing to New Swing Lows” and now new lows beneath those levels.

The more interesting relationship is the Arc Trendline Reversal in both Gold and the US Dollar.

Gold’s short-term trend turned (reversed) from down to up while the Dollar reversed similarly from up to down.

Again, stocks were unaffected in the sideways pattern while Oil was unaffected with the downtrend.

With the boost in the Dollar, Oil is getting a sharp bounce this morning as is gold.

We cover all these markets – along with US Treasuries – in our Weekly Strategy Report for members (join today!).

Continue watching these trends and the activity from the fall-out (reactions) from the GDP and other major reports.

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Corey Rosenbloom, CMT
Afraid to Trade.com

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