Friday, August 10, 2012

Weekend Thread

Black Canyon
Ski mentioned Black Canyon the other day, and it's definitely a must see in Colorado. When I think of something that is relaxing, this comes in at the top of my list. Every time I've ever been there, I lose my breath when I stand over the edge and look at how deep it really is. It's an amazing place, and well worth traveling to if you haven't seen it in before. There are some great fly fishing spots too!

Black Canyon
I hope everyone has a safe and relaxing weekend! :)

Volatile morning

S&P Futures 15min
S&P futures have been whippin around pretty good this morning. Intraday volume is pretty light and is suggesting about a 10point range. The low of the day session is 1392, so that puts a high target area of 1402ish (1405 on SPX).

Gold ping-pong

Gold Futures (Dec) 30min
Gold futures have been rejected at 1620 by the bears all week. Its been caught in a ping pong battle between 1620 and the top of that daily triangle pattern (red line). I'm still waiting to see a few closes above 1620 before getting bullish on it again... and it looks like it could take awhile.