4/13/20 MARKET CLOSE Update - CURRENCY/TREASURIES/GOLD

GLD Bullish, Treasuries down, and $USD meh.


TLT: Chart with Detailed Levels

Market Structure: Still overall Bullish

Momentum: Bearish

Internals: Neutral

Block Volume: Neutral

GEX: Positive


TLT Summary: Down today slightly. Internals, GEX, and Block Volume positive. BTD crowd looks to be accumulating into weak days. Support levels underneath price noted above.

UUP: Chart with Detailed Levels

Market Structure: Still overall Bullish

Momentum: Bearish

Internals: Neutral

Block Volume: N/A

GEX: Positive

UUP Summary: This is still bullish market structure. Nothing to see here today except for price flat and internals turning up.

GLD: Chart with Detailed Levels

Market Structure: Still overall Bullish

Momentum: Bullish (but close to exhaustion)

Internals: Positive

Block Volume: Positive

GEX: Positive


GLD Summary: Very positive price action today and with a new high for this trend pretty much ensures that dips will be bought. Next important thing to determine is where price stops with this move up and that will help determine the FVG gaps that will/won't get filled on a pull back.

SLV: Chart with Detailed Levels

Market Structure: Still overall Bearish

Momentum: Bullish (but close to exhaustion)

Internals: Neutral

Block Volume: Positive (but maybe chasing)

GEX: Positive


SLV Summary: This is still a bearish market structure as compared to GLD which is concerning to the sector. PMs want this to be bullish too which has yet to happen. This is a must watch for the next few days/weeks.

GDX: Chart with Detailed Levels

Market Structure: Neutral (improved from BEARISH)

Momentum: Bullish (but close to exhaustion)

Internals: Positive

Block Volume: Positive

GEX: Positive


GDX Summary: Blew through the 30.00 level. Bulls want to keep pushing through the previous top and get some room up above before a pull back. This gets through the old high it will set this to a bullish market structure and with a positive GEX like this should be a BTD market. Having said that, I am net neutral because I would like to see how this behaves in a market pull back/sell off as it had similar set up a month ago and got halved in 8 trading days...before I buy it. I traded this very successfully in 2019 and sold out before the drop in March b/c of our prop signals. I like this...but am hesitant here still FWIW.


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