Daily Commentary

In yesterday’s broad market post, I highlighted that the key US Stock Market Indexs were poised at critical ‘make or break’ resistance levels. It’s no surprise that certain stocks are showing similar “Make or Break” resistance boundaries.

Let’s take a quick look at Google’s Weekly Chart to see how Google is coming into a key inflection point at $600 per share – and a resolution up or down should clue us in to the next likely move which would likely confirm that which was happening or expected in the broader markets.

When looking at the daily S&P 500, I had to scratch my head and ask myself, “Are we getting ready for yet another power-move up that begins as a result of another Short-Squeeze?” Let’s see what I mean.

As we approach the middle of December, let’s take a look at how gold prices have performed year-to-date and what specific level to watch here for clues as to the short-term future of gold.

Sometimes it can be helpful to pull our perspective back and focus exclusively on price without any indicators to get a better read on the current trading conditions of the market – that is particularly helpful right now as we remain mired in a month-long trading range.

We’ve all been discussing and trading within the recent “Trading Range” between $111.50 and $109.00 on the SPY (1,110 and 1,085 on the S&P 500 index) but I wanted to take a closer look to show some of the repetitive patterns within the range itself.