By Markus Heitkoetter
Today’s trading could be summed up with the word: ROLLER-COASTER.
Recovering slightly from last week’s slide, E-Mini S&P traders saw the session start in positive territory after an overnight rally. After being up as much as 16 points, the S&P sold-off and it looked like the S&P would finish the day with its 3rd consecutive loss.
But the bulls weren’t done yet…in the last 45 minutes of the session a strong push higher lifted equities. After an impressive comeback the S&P ended the day 15 points higher and the DOW closed the session with a 147 point gain.
Gold (GC3) has been on our radar recently, and today we had a Power Crossover Method Buy Signal trigger with a push through $1324.3. Using the Average Daily Range, we’re looking for a PowerX Target of $1367.60.