4/16/20 MARKET CLOSE Update - CURRENCY/TREASURIES/GOLD

GLD entering short term pull-back? Treasuries and $USD ripped...again.


TLT: Chart with Detailed Levels

Market Structure: Bullish

Momentum: Positive

Internals: Positive

Block Volume: Neutral

GEX: Positive


TLT Summary: This was strong today but did run into multiple resistances. I would not be surprised by a temporary pull back in the next day or two. Remember anything in the green accumulation zone is BTD until it isn't.

UUP: Chart with Detailed Levels

Market Structure: Bullish

Momentum: Bullish cross-over

Internals: Neutral still (but turning up towards the zero line)

Block Volume: Selling is really slowing...keep watching this too!

GEX: Positive

UUP Summary: THIS REMAINS AN ALERT MONITOR NOW. Popped today but again also like TLT hit the first level of resistance. Would not be surprised if this takes numerous attempts to bust through which probably is next week after OPEX...still very bullish structure.

GLD: Chart with Detailed Levels

Market Structure: Still overall Bullish

Momentum: Bullish but really 'toppy' (exhaustion apparent now)

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

Block Volume: Positive

GEX: Positive


GLD Summary: 3 straight days have seen a rejection in that same price area. Should start to see a pull back form into next week/week after. If we don't then this is just going to go higher now.

SLV: Chart with Detailed Levels

Market Structure: Still overall Bearish

Momentum: Bullish (but close to exhaustion)

Internals: Turned up today

Block Volume: Positive (definitely chasing last squiggles higher)

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


SLV Summary: Nothing new here with SLV. Cannot get through resistance and struggling even with large buying. IF it can ever push through 15.50 it will run...until then just going to meander and/or drop. Saw good support today at that first level. Will it take a shot at 15.50 now?

GDX: Chart with Detailed Levels

Market Structure: Neutral still

Momentum: Bullish (exhaustion and almost turning bearish)

Internals: Popped back up

Block Volume: Neutral

GEX: Positive


GDX Summary: Solid price bounce back today into the distribution box...have to wait to see what tomorrow brings and ultimately Monday because OPEX might skew this temporarily. We are pretty overbought here...even if you like this I would wait for a better entry as those levels down below are very juicy with FVGs.


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