4/14/20 MARKET CLOSE Update - CURRENCY/TREASURIES/GOLD

GLD Bullish, Treasuries down, and $USD down.


TLT: Chart with Detailed Levels

Market Structure: Still overall Bullish

Momentum: Bearish

Internals: Neutral

Block Volume: Neutral

GEX: Positive


TLT Summary: Down today slightly again today. Internals, GEX, and Block Volume positive. Smart money crowd continues to appear to be accumulating into weak days. Support levels underneath price noted above. If risk on is real, this should get smoked...why the buying?

UUP: Chart with Detailed Levels

Market Structure: Still overall Bullish

Momentum: Bearish but close to resetting...watch this!

Internals: Neutral

Block Volume: Selling is slowing...watch this too!

GEX: Positive

UUP Summary: THIS IS A MONITOR NOW. Selling is waning with internals resetting and momentum almost exhausted. The $USD shortage didn't go anywhere last few weeks...even with FED actions. Be aware of a bullish dollar move here after a high level consolidation.

GLD: Chart with Detailed Levels

Market Structure: Still overall Bullish

Momentum: Bullish (exhaustion)

Internals: Positive (chasing now which isn't ideal)

Block Volume: Positive (chasers now - look at price chart)

GEX: Positive


GLD Summary: Looking for a pull back in gold now. Candle failed right at the inflection yellow line (short term high I think) and look at what happens whenever there are green chaser bars in this...pictures worth a thousand words. I think it holds 155 or at least 149 but what do I know...I bought some spec puts on this today at close. Don't shoot me!

SLV: Chart with Detailed Levels

Market Structure: Still overall Bearish

Momentum: Bullish (but close to exhaustion)

Internals: Neutral

Block Volume: Positive (definitely chasing last squiggles higher)

GEX: Positive...but big put wall at 15.50 just dominating this


SLV Summary: This was up like 4% overnight and barely finished green intraday. Ugly. I have been saying to myself that there is just no follow through here. This entire move off the low may be retraced. Don't shoot me or @ me for saying that either. Just throwing it out there...I love Silver trade and have for years but this is not healthy at the moment. Need to see where it hold pull back. I want to clear 15.54 with STRENGTH before I am comfortable. Targets above are in 30's + if it gets going. But downside could be new lows...

GDX: Chart with Detailed Levels

Market Structure: Neutral (improved from BEARISH but failure today hurts BULLISH)

Momentum: Bullish (exhaustion)

Internals: Turned over at high

Block Volume: Positive but waning

GEX: Positive


GDX Summary: This was NOT what BULLS want. Spike up HOD that is totally dumped (10% HOD to LOD action was eesh). Pull back here need to hold either 26 level or 24 level. Bulls don't want to flirt with 21 level or this becomes the vaunted middle finger pattern...(high/low...higher high/higher low...big blast up/complete give back...lower high/lower low...lower/lower...dead)...let's root for 26 level holding and take it from there.


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