#Gold#XAUUSD - We are getting slowly down towards the buying zones. Cycle busted (sorry cyclists 😄) Trust the chart, not the 'cycle' and the news. Looking to buy just under $4000, potentially $3800-3500 (3500 is ideal, but perhaps wishful). I'll take profit on the short side and reverse where it turns.
We got the bounce and I’m still processing my thoughts of next week (no positions).
Short term yields up and long term down, consistent with expectations that Warsh will be able to control long term inflation through tighter monetary policy.
$VIXX and $VIXX suppressed - maybe a little too much with a steepening term structure but not absurd for so early in the front contract. There was also continued call flow throughout the day and I expect this to come back to life next week.
$SPY didn’t make it to the 20 day but it held the fib and could retest the 0.786 before a rejection. 750 interest is definitely there and 752 comes right after.
Not the most bullish candle today especially on the weekly - and the MOC was fairly negative.
Wednesday we have $MU earnings.
Thursday, PCE.
Trump is out of tacos until the next disaster.
$SPX regained the 20 day MA today so this action is confusing. This is only an inside day so it can't be said that it has bottomed. The key level on the upside is 7582. If it doesn't close above 7582 tomorrow it would still be at risk of a decline to low 7300s next week.
$SPY Price closed back above all moving averages which is good but 749 is still acting as a strong resistance after it got lost as support. Bulls are not fully out of the woods yet by any means. That doesn’t mean to short but to stay cautious as long as we are still trading under this line. I’m personally staying in cash for the long weekend.
Now that Opex and Vix expiration is behind us things should be more clean for the last two weeks of the month. I’m currently neutral since we are above the 10 dma but still below 749.
Enjoy your weekends✌️
Rodrigo De Paul on how Argentina treats Lionel Messi inside the national team:
🗣️ “People always ask me what Messi is like inside the Argentina camp. The truth is, for us, he is much more than just our captain or our best player.”
“He is the guy who carried this country through pressure, criticism, heartbreak, and impossible expectations for so many years without ever giving up on Argentina.”
“When Messi walks into the dressing room, everybody notices. Not because he demands attention, but because of the respect he has earned from every single player who wears this shirt.”
“There have been matches where players were exhausted, injured, barely able to run, but the moment Messi received a bad tackle, everyone suddenly found extra energy to fight for him.”
“I've seen teammates sprint fifty metres just to defend him. I've seen players argue with opponents, stand up to referees, and put themselves on the line because they feel they owe him that much.”
“People outside football may not understand it, but when you share a pitch with Messi, you don't just want to win for Argentina... you want to win for him too.”
“For many of us, seeing Messi happy after a victory feels almost as important as the result itself because we know everything he has sacrificed for this country.”
“And honestly, inside that dressing room, Messi isn't treated like a superstar... he's treated like football royalty. For many Argentine players, he is as close to a football god as we will ever see.”