REMINDER: Starting on Presidents’ Day weekend, Feb. 13-15, we’ll begin posting all updates at tradingonthemark.substack.com. If you’re already a subscriber to our service here, we’ll arrange to have your access continue there without interruption.
The Day Ahead: PM Edition 2020-10-26
Nice move in bonds today to get the retrace up started.
The Day Ahead: AM Edition 2020-10-26
Bonds up this morning enough that it looks like they could stretch to 174^10.
First Look: 2020-10-26
S&P 500 futures have been moving lower overnight to poke just under initial support at 3417.75.
British Pound futures update
I've been asked for an update on GBP and since the equity indices should quiet down over the next 1.5 hours till the FOMC statement, think I have enough time to get this done. Overall think GBP, like many of the major USD crosses, has spent the last year correcting up in a wave [iv] and should be close to pressing lower in a wave [v] over the next 18 months.
Gold Miner ETF GDX
I have included charts of this ETF, GDX, in the last couple of gold posts and thought I should make a separate post on it for completeness sake. The main hypothesis shown on the following monthly and weekly charts is pretty similar to that of gold except that I am assuming an ending diagonal here as opposed to a simple impulse lower essentially allowing for a couple retests of the of the early 2016 low before a climb out of the hole.
Gold futures monthly/weekly update
The wave count that I last had on the big picture in gold just didn't sit well with me and have put some thought into it over the weekend. The overall main and alternate ideas in general are the same, it is more of just a technical wave counting issue.
Hit your targets
We believe an independent trader can succeed and profit in the markets, and we’re committed to helping our subscribers trade well on the time frame that best suits them. We founded Trading On The Mark in 2008 to help traders overcome some of the challenges of market analysis and trade execution. If trading futures and options based on technical analysis appeals to you, then you’re the kind of trader we want to work with.TOTM’s technical approach is grounded in Elliott wave and Gann techniques, while also making use of Fibonacci relationships in price and time, historical cycles analysis, proprietary technical indicators, and other more esoteric methods.
What people say about TOTM
If you love trading, I highly recommend Tradingonthemark! Tom, Kurt offer great charts and other technical stuff. It has improved my trading! — Moiz, intraday trader and long-time subscriber