Gold."Nothing to see here.... Move along please"!... a healthy retracement cannot be rushed then $2300

SP+DJ+NQ..... the story continues.... the jury's still out.

Above seen 5 min time frame. The pitch fork (AKA Median Line) shows the relationship between 3 pivots A,B&C. Price has made its journey to the centre line.

Above is the same ML in the NASDAQ

 above: Back in the ESU20 look at the price action when it meets the line. Gap up,touch and fall away. Same behaviour can be observed 100's of times a day with hundreds of different sets of 3 pivots in multiple time frames.

 above: Here is the emini Dow. Look at the rejection after the touch/ kiss on the centre line.

 above: Here it is in lower time frame.

Above: Now we look at the bigger picture and multiple ML's.Note price has failed to reach the CL of the bigger ML: A/B/C. We are looking for short entries but nothing clear yet.

and here is the daily Dow. We really need a long candle to fall away from this upper M line. If it continues to hug the line it may burst/press through and up towards closing the gap. Noted on chart.

S&P... make or break

i have added equidistant channel that matches the piercing below the LMLP in March which is now reflected on our UMLP. The risk is a violent retracement from a potential double tops. Anyone who has had the time to watch the intense battle between 3350 and 3379 ( sept20) will agree it is painful to trade (Mea Culpa) and boring to watch. Wait for the break either way- up or down out of this infernal range. As much as i would like to see a perfect fall i think the jury is still out and knowing WS long metality this market could still make new highs. However the NASDAQ look peevish and the DJII very unsteady but remember we still have a major March CV GAP to fill on DOW.

S&P turning point

 Remember this photo of  a PF i posted in March? ( see previous post) Price went on to pass through the centre line and form a reversal pivot on the LMLP as i deduced at the time.

 

 

as seen below today . see the small extension below and above the upper and lower MLP's.

 

 

 

Now we have hit the top upper MLP. Price will try to make a pivot here as we can see with Tuesdays 11 aug trading session. This could be critical reversal point. Remember that with the DJII there is still a gap begging to be filled so that market could make new highs but we will see next few days price action before things will become clearer.