Sentiment is going down

This holiday season may be different. I see sentiment going down. I am closing my positions (long and short) to have a light thanksgiving.

Support and resistance based on ES 4h.

Happy Thanksgiving, everyone.

Quick Update on Gold - ahead of FED minutes

Market movement is strange today. ECB news is not enough to move the market but I saw a 16 points strange round trip. I guess there is something brewing.
I am still thinking of new high on SPX. I will hold long position as long as SPX 1780 holds. I am not confident on Gold. I bot GLD Jan puts 100% to hedge my long GLD.

North of 1800

I have not updated the blog for a while. I really don't have too much to say. The market is a simple long.

As long as VIX is tamed, it is safe to go long. After the break out of 1750, SPX retested the area multiple times. it is now a very good support. This is the base of the bull market.

Hourly ES is less strong. Indicators are all weakening. I see 2 supports on the chart, 1775-1777 area and the upper bound of the 1750-1770 support box. There may be chance to see a minor pull back but nothing to worry about. If you are not fully long, take that as chance to add more. ：）


2 more charts on Gold.