Tuesday update

SHORT TERM: gap up opening rally, DOW +222

Overnight the Asian markets gained 1.0%. European markets opened higher and gained 0.6%. US index futures were higher overnight, and the market gapped up to SPX 2068 at the open. The SPX had closed at 2059 yesterday. At 10am Wholesale inventories were reported higher: +0.1% v -0.5%. The market continued to rally throughout the day, with only two three point pullbacks, and hit SPX 2085 just before 2084 close.

For the day the SPX/DOW gained 1.25%, and the NDX/NAZ gained 1.30%. Bonds gained 1 tick, Crude rallied $1.25, Gold rose $4, and the USD was higher. Medium term support rises to the 2070 and 2043 pivots, with resistance at the 2085 and 2131 pivots. Tomorrow: the Treasury deficit at 2pm.

The market gapped up at the open today and rallied to SPX 2085 with not much of a pullback along the way. While we were expecting one more decline, to the 2019 pivot area before a substantial rally, the market obviously had other intentions. With today’s rally the rise from Friday’s SPX 2039 low has now stretched to 40+ points. This suggests the first decline, of the anticipated downtrend from SPX 2111, ended at that low. Short term support rises to the 2070 and 2043 pivots, with resistance at the 2085 pivot and SPX 2104. Short term momentum rose through the negative divergence and ended the day quite overbought. Trade what is in front of you!

MEDIUM TERM: downtrend probable

LONG TERM: bear market rally

CHARTS: https://stockcharts.com/public/1269446/tenpp

About tony caldaro

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374 Responses to Tuesday update

  1. rd3777 says:

    The 3rd wave should gap and go tomorrow….we will see..so far so good.

  2. Roxie97 says:

    That’s was a nice smack down – We should be light on the bull chatter tonight !!

  3. phil1247 says:

    target hit

    took off some SPXU at target

  4. fotis2 says:

    10 min close gap job

  5. Will wait for 2nd day for follow-thru, if not will stay neutral

  6. captbara says:

    Bunch of stocks and Compq trying to paint IHnS

  7. T Boone Pickens just gave an interesting stat:In 2014,there were 1600+ oil rigs going in the US.Now there are only 360 rigs in operation in the US.Get this…with 1300 less rigs–that amounts to a drop in oil production of only 700,000 barrels of oil.Inconsequential.(If he stated the right facts).He says oil rises to 50-60.What WE do is meaningless in the weekly oil stats.

  8. phil1247 says:


    extension short in force on 15 min

    bearish below 2066

    above that allows rally up towards 2073

  9. cj32 says:


  10. NEWBIE says:

    Anybody like the chart I posted earlier?

  11. H D says:

    SPX exact .382 retracement of the rally at LOD today. The retracement levels, golden ratio .618 and .382 are some of the best practices in EW. Trying to put trend lines and channels on impulse waves is not. Have a good1

    • simpleiam says:

      Thanks HD. I’ve learned a lot from you. Esp. profitable has been HWB on a number of recent moves.

      • H D says:

        Thx Simple, not trying to teach or be some guru, just trying to keep an open dialogue about the elliot waves going here.

        BTW, the 2066 symmetry traded:mrgreen:

        • simpleiam says:

          I understand HD. However, sometimes HWB is so SIMPLE it’s ridiculous. I think when I can learn something new that works in certain circumstances, so much the better.

          • phil1247 says:


            the reason hwb works is because the algos are written relative to fib retraces on es

            hwb= .50 etc….. many times you will see the market turn to the tick at fib levels…

            thats not humans doing that

      • blackjak100 says:

        Here I thought TRIN was the only thing that mattered and I’ve been losing my butt using it.

    • locanbbs says:

      What do you do if price goes from one retracement to the next (lower/higher)? You never know if that’s your last retracement until it’s too late? Or am I wrong?

  12. Ajay Singhi says:

    One more low pending near 2065. After that, new high above 2111. Decline from 2085 is an ABC.

  13. With Amazon and Facebook hitting fresh new highs and the NDX/NAS still quite a bit below the high shows the deterioration going on outside of those 2.

  14. Here’s an update. Within a diagonal, wave (v) can not be longer than wave (iii) : that provided a clear invalidation point for a diagonal. When SP500 got down to below 2067.95, then it could no longer be a diagonal, and is better counted as (i), (ii), and (iii) waves down so far, with no overlaps. Still, a very slow and choppy decline, although as a further indicator of a wave (iii), the EWO just make a new low. And it is possible for (iii) to become 1.618 x (i) .. or more.

    SPX - Intraday - May-11 1424 PM (5 min)


  15. looks like if 2065 can hold, we should have 1 more up, if not 2040 then 2024

  16. rd3777 says:

    Looking good so far….should close on the low.

  17. kvilia says:

    Thank you, Tony.
    Bought UVXY earlier at $13.12, let’s see what happens. Based on the recent pattern, it should reach $16.5 or just below by the weekend. Wish me luck.

  18. Dex T says:

    U.S. mutual fund investors pull money from stocks for 8th straight week -ICI

    Investors withdrew $3 billion from U.S.-based stock funds, adding to a streak that has swept nearly $35 billion from the funds, according to ICI data.

    “Retail investors are definitely jittery,” said Morningstar Inc analyst Jason Kephart. “Stocks haven’t really gone anywhere in the last year and investors are probably still feeling the aftershocks of a pretty volatile first quarter.” If anything, the negative sentiment around stock funds is understated by the current pattern of withdrawals. Over the last year, the funds have recorded outflows in 39 of 52 weeks, ICI data showed.


  19. stmro says:

    If we close here bears will have done enough to maintain the bearish trend. We are back in the downward channel, back under middle bb resistance.

    A close today or tomorrow below yesterday’s low will confirm.

  20. aahmichael says:

    The Dow has now overlapped Monday’s high, thus, eliminating the possibility that today’s decline is a wave 4 from Friday’s low of 2039.

    • fionamargaret says:

      ..which means…

      • fionamargaret says:

        ..think buy at pivot 2070, then up…..

      • Dex T says:

        It means the move up from Friday is corrective. More downside on the way.

      • aahmichael says:

        Which means that the rally from Friday’s low was a symmetrical zig-zag…a corrective wave…otherwise known as a dead-cat bounce. It was not the start of a new impulse wave to new highs.

        • fionamargaret says:

          Thank you Michael – really well explained.
          Now if everyone could simplify slightly….I know it is an OEW site….but I appreciate.

          In return, nothing has changed with the $SPX pattern – 2185.
          Nothing has changed with GLD….to 163….but if we add on $2 tomorrow, it is a breakout…
          Nothing has changed with the bullish $WTIC chart…to 72….UWTI has about 18 upside.

          • ewtoriginal says:

            Investor Sentiment is actually very bullish.Bears have capitulated a long time back.Option implied vol is tiny-not that it shouldnt be low with this type of coordinated manipulation- but volume is also low. In other words, bulls are riding current positions, bears are flat or not aggressively short and hedges are cheap but not being utilized cause “why bother”. A contrarian might actually think this is the perfect time to add some serious downside gamma –aka buy puts or get short with protective calls. Anyone calling sentiment bearish is lying or reading the propaganda.

  21. K-Tastic says:

    I don’t know if anyone posted this already given everyone’s hate for ZeroHedge…but here’s Stan Drunkemiller’s preso at the Sohn Conference. He and Dalio are basically saying the same thing.


    • K-Tastic says:

      Only two of the finest money managers (and plugged in) out there…nothing to look at here though.

      • aahmichael says:

        Thanks for posting the article, K-Tastic. I usually don’t bother with doomsday scenarios, but he’s a very intelligent guy and his thoughts should never be discounted.

        • johnnymagicmoney says:

          Is Stanley Druckenmiller even better than George Soros?

          “Stan may be the greatest moneymaking machine in history. He has Jim Roger’s analytical ability, George Soros’s trading ability, and the stomach of a riverboat gambler when it comes to placing his bets. His lack of volatility is unbelievable. I think he’s had something like five down quarters in 25 years and never a down year. The Quantum record from 1989 to 2000 is really his. The assets grew from $1 billion to $20 billion over that time and the performance never suffered. Soros’s record was made on a smaller amount of money at a time when there were fewer hedge funds to compete against.”

  22. Any lower low would likely be minuette (v) of minute i of minor C, lower. If the trend lines were parallel, I would draw them that way .. but they are not. Note that (iii) is currently less than (i). As always with wedges, the alternate is that they break ‘lower’ into a full on 1-2-i-ii.

    SPX - Intraday - May-11 1259 PM (5 min)


  23. NEWBIE says:

    Mr. Caldaro, what’s your thoughts on market sitting at 2076. Maybe one more push higher or top is in and down we go?

    • mjtplayer says:

      Hey Newbie, here’s my count. Falling in minute b of minor b, could have 1 more poke higher in minute c to complete minor b, but it’s also possible the entire move from 2,039 – 2,084 was all of minor b and down we go in minor c to complete int A


    • rigged09 says:

      Tony already has put i/a on his charts but lately it looks like Bots are targeted against Tony!

      • mjtplayer says:

        It’s not a i,ii as the potential wave ii rose above the prior b wave – which is not allowed. Also, the rally from 2,039 – 2,084 is too small to be an int wave.

        I would assume Tony changes 2,039 to minor a and now rallying in minor b, per my count above

        • mcgcapital says:

          Nice work… Move to a lower low coming by Monday/Tuesday then a sharp opex rally before the bears regain control through summer

  24. johnnymagicmoney says:

    Remember that moron Bridget out a 1000 price tag on Amazon 16 years ago? Well some guy put a 1000 price tag on it again yesterday. Facebook and Amazon at sAme market cap now. Astounding the kool aid drinking Amazon longs. I actually think Facebook is a great long term hold but Amazon is the mother of delusion in this market. But wait they are going to build space colonies in the moon. Darn I forgot. Well I change my stance then. Amazon to 2000!!!! Amazon to 30000! Amazon to the moooooon!!!!!!

    • johnnymagicmoney says:


      • johnnymagicmoney says:

        Yes so let’s do the math…..zero profit by 10 million people = 0. Zero profit by 100 million people = 0 hmmmm yeah I can see how more subscribers means more profit

      • johnnymagicmoney says:

        Larry I’m well aware of the price of Amazon and I’m well aware that you can get in and out long or short in Amazon. Tell me something I don’t know please. Amazon is still a joke sporting a 340 billion market cap with very very little earnings and joke margins. Lots of long holders will be hurt. Anyone who thinks the fundamentals back this price are simply morons

        • LarryH says:

          Cynicism has it’s place and definitely in the market but when 1 in 6 Americans have a premium service from one company the moron might be the cynic.

          • Dex T says:

            AMZN’s main problem is that that are not very profitable.

            Using your rationale charities should be among the valuable entities because they affect so many people. So should utilities, real estate firms, biotech etc… Far more Americans consume food, drink and use medicine than AMZN products.

            AMZN has value but it’s stock is much too expensive. It should be 1/10 of its price.

            • LarryH says:

              You do not make any sense. We are talking about one entity which is Amazon! “Far more Americans consume food…” But is it from ONE company? Short amzn then if you think it’s too expensive. You probably thought it was too expensive in 1997.

              • Dex T says:

                Possibly. I don’t have exact numbers on consumers off hand to do a side by side comparison. But there are other behemoths out there to review.

                Look at Walmart, for example. Larger than AMZN and possibly as many Americans if not more shop or have used it. But only with a PE of around 14. Much, much lower than AMZN’s which is 570 (!!!!)

                AMZN has struggled to turn a profit for a long time. It’s not an upcoming tech company so it’s “momentum” based valuation shouldn’t apply.

                I wouldn’t short it long term, but short term, sure why not? It has had huge corrections in the past and will fall out of favor before long. But since it’s on the move up I will wait for a break before I short. Looking at the chart it’s an easy 5 waves up.

                It is way, way overpriced – through the stratosphere!

    • FB is a joke. Its a phenomenon of mass delusion. They cab be replaced tomorrow just like they took out their predecessors. Both those names are the short of a lifetime when the time is right.

      • Dex T says:

        FB will go the way of myspace in a few more years. I use it and the only advantage I find is it’s good for event organization and events.

        But there are so many social networking sites that it’s difficult to keep it competitive and keep increasing revenue. People will soon get bored and move onto something else.

        We’ve already seen twitter bomb out

    • Holly Silver says:

      Do the Buffet math. A dominant player with great management. Are they not dominate players? Have they already tapped their revenue stream? No imagination and no understanding of future trend. I remember for decades the argument over McDonalds and Starbucks. Now we are in the cloud. I suggest you get your heads there too. How can these two giants screw it up with such name recognition and dominance?

      • EL MATADOR says:

        Buffett is not a trader he is a LT horizon investor. If he was a trader he would have bought IBM near it’s ATH nor would he had held on to AXP while it got crushed, etc, etc.

        • EL MATADOR says:

          meant he would not have

        • Dex T says:

          Exactly! People idolize Buffet but he has lost substantial amounts of money in every bear market!

          He is very open about his losses and lack of timing but many people love to forget this.

          When we finally get a lasting down wave Buffett is going to be headline news on how he lost $30 billion (or whatever) in networth in a few months time and screaming for more QE.

      • How about a PE ratio of 165 for AMZN? How about FB having nothing but BS as tangible assets? Symbol change suggested, FECE.

        • johnnymagicmoney says:

          Lol my argument is this….face and Amazon both great companies run by geniuses and rich geniuses at that!!!! Kudos to them. Facebook controls social media….there is no one else. Facebook can also grow into its valuation given its growth rate. Amazon doesn’t do anything unique. Ther cloud services will have to compete with a slew of other tech giants and that too will become mRginalized price wise. As far as the retail goes it’s a laugher. Crappy margins in a crappy margin business yet Amazon gets a valuation like its a company that is on the verge of curing cancer AND colonizing the moon at the same time!!!! Lol Amazon offers the world to its customers to get its customers. If you play price as your game try monetizing your users with price increases or device reductions. They made this margin bed now they have to sleep in it. All they hVe done is made a larger no margin network. Wall Street has given it a pass for sooooo long. My valuation on Amazon is like 150

          • cmucha68 says:

            Hahaha, what genius ?? Mark Zuckerburg is a Jewish asshole who betrayed his friends. That’s all.

            • johnnymagicmoney says:

              being Jewish or an a hole has nothing to do with whether he is smart or rich. He is rich and he is smart. I think those two things are pretty obvious. If you want to add Jewish too as being an obvious factor you can if you’d like but don’t understand the relevance Donald

      • johnnymagicmoney says:

        He’d never ever ever buy Amazon nor would graham or drunkenmiller or soros or a billion other smartie pants. People who watch CNBC buy Amazon and herd fund managers. Facebook is different. Amazon is not

    • Dex T says:

      I saw that article on the top of yahoo finance and was wondering what you thought. That report help propel them to new highs but was completely bogus.

      Agreed. AMZN is in a 5th wave – euphoria is high on this stock but it will end up crashing down with the others.

    • fionamargaret says:


  25. rd3777 says:

    Well the market is weakening here slowly asFB,MMM,MCD,JNJ ect make final tops…by my count we have entered a 3rd wave down. The market action is choppy but should start down in earnest in the coming hours and days,as crude continues it’s influence.

  26. CBOE Equity Put/Call Ratio still up at .91

  27. Looks like the LOW is in again in the XOI at 1075 from Monday.

  28. Holly Silver says:

    Am wrong on the two day rally of equal proportions. This actually extends the current rally. It bodes well fro a move close to the all time highs. I assume a normal retrace here by close. The move from February lows have been in a pretty defined channel with no real extended pressure either up or down. this suggests we are not in a blow off top. far from it. if we hold with a 1/3 to 1/2 retrace we should see a nice rally tomorrow. this is based on previous moves in this current trend. 2095 to 2100 is my target for Friday or possibly Monday. Will bet only if the days activity fits into my assumption.

    • ewtoriginal says:

      I am reasonably sure that there will not be a nice rally tomorrow or any rally for the rest of today starting 12:03 EST.
      Time of post: 12:03 EST

  29. ABchart says:

    Probably big up tomorrow on the CAC and the DAX, target 4375/80 and 10100/120

    I am long from this morning.

  30. Jack Sparrow says:

    so far all the trend lines on oil and sp holding up so keep a close eye before going bearish, ew counts can be counted both ways up or down at the moment

  31. captbara says:

    Oil above 46.5 is a buy, channel held.

  32. ABchart says:

    EIA oil production -0.3%
    Oil ramp 44 > 45.70$

    • Holly Silver says:

      Silly argument and none true. The consumer has slowly but continually reverted back to their life style. the sobering affect was a good one. it’s called spend within your means. The real question is based on the data have they? No they haven’t. They have the money, that’s true. Discretionary income is fairly high. Spending they are, just not on “things”. they have surged in eating pout and a lifestyle that can only be described as hedonistic. All the pleasurable events are rising. Demographics plays a part since there are so many baby boomers that just don’t require the latest fashion. BUT please look at the online retailer. Please look at the transporters of these goods and tell me we are slowing down. So they are saving and spending 2 percent. Since 2 percent is at or above inflation they are spending at inflation level. yes they are not over spending.

      To argue that the trend over the last 18 months is bad is like saying they are dammed if they do and dammed if they don’t. Recession with these figures? The same can be said for corporations during the same time period. they slowed spending appreciably and also reduced inventory. Is that a bad thing? they did this while maintaining a very long job growth record.

      So which is it? A dying consumer or one that is hording their bounty? You can’t have it both ways. In fact the hording is with a surge in credit card spending yet again and car debt. They are reducing mortgage payments since refis are still a bargain. they have shifted from housing considered an asset that always rises in value to just a necessity.

      So your argument is that the consumer has permanently shifted from an over spender to a saver? Not ever going to happen unless we hit another great depression. That lesson is never absorbed. I have stated for years that the absolutely best thing to heal our economy is time. Low acceleration, no excesses. We have managed this in a remarkable way. the reason this bull is so long is simply because the cycle has been slowed. we are recovering. How anyone can deny this is absurd. the bigger question is when will the fix become the cause of our next debacle. Debt has been added by our government at an extraordinary level. In a zero rate environment it can last very long, and has. When the “good times” come that forces inflation to rise. My theory is that we will not experience real danger till rates are FORCED to rise above the tipping point of defaults.

      I say be careful what you wish for. The slow as you go will extend this bull and has already done so. The past consumer buildup of discretionary income has always resulted in them spending it. Look at out history of savings. House prices have skyrocketed from the dire situation 7 years ago. Tight housing and tight labor markets are not a sign of a recession. People are spending and the fact that restraint businesses have boomed this last decade is testament to that. travel has also accelerated in that same time span.

      Either the stock market is clueless and has been for 7 years now or they are being forced to invest in the only bet in town. I suspect a combination of both. Stretched valuations results. Just look back on your assumptions all those years ago and tell me in your wildest dream you would be seeing a tight housing and labor market. Did ANYONE see this?

      • EL MATADOR says:

        To be clear i’m not arguing the consumer has shifted from spender to saver. Those articles are cherry picking data and leaving a lot of facts out as you do yourself in order to argue your point.

        Let me provide you with one example;
        washington article claims that,
        “During the Great Recession, Congress enacted several temporary tax cuts to boost consumer spending. The effect was modest, as studies by Shapiro and his collaborators found. Take the case of the two-percentage-point suspension of the Social Security payroll tax in 2011 and 2012. Two-thirds of the tax cut went to saving and repaying debt — not spending.”

        Well let me say that Illinois residents did not get to benefit from the 2% fed income tax reduction, why because at the same time the Illinois state govt increase individual state income tax rate from 3% to 5% (other state did enact similar rate increases) and remained in effect for some time after the expiration of the temporary 2% fed income tax rate reduction. So as you can see no savings nor debt repayment opportunity were provided for us Illinois residents. the money was shift from one blood suck govt leach to the other.

      • johnnymagicmoney says:

        The market has not been clueless for 7 years holly. It’s been clueless for maybe a year now. Plenty of us long term bears here were bullish for a long time. No question stocks were oversold and no question fundamentals were improving for a while and no one questions the power of QE here. What is clueless is the never ending optimism on deteriorating conditions and mounting risks and an extreme obsession with the Fed who ironically have created and popped bubbles time and time again yet for some strange reason the market has faith in them this time. Price is one thing but to say things are strong fundamentally reduces you to the worst cheerleader in CNBC

      • EL MATADOR says:

        “….Please look at the transporters of these goods and tell me we are slowing down….”

        Does this partially address the above? Also did you not listen to what Buffett said about his BNSF buisness and what the CEO of the other rail companies and trucking companies said during their earnings call? More slow down up the road they said.

        • EL MATADOR says:

          PORTLAND, Ore., May 10, 2016 /PRNewswire/ — Spot market freight volume edged down 3.4 percent in April, compared to March, in a typical seasonal pattern, according to the DAT North American Freight Index. Freight availability in April declined 8.9 percent for dry vans, volume for refrigerated (“reefer”) vans slipped 9.4 percent, and flatbed volume increased 3.9 percent. Line haul rates on the spot market declined 1.5 percent for vans, and 0.6 percent for reefers, but flatbed rates increased 1.2 percent, month over month.

          Compared to April 2015, overall spot market freight availability fell 30 percent. Year-over-year declines have been following a consistent pattern in every month since January 2015, due to lower demand for transportation services in the spot market, as well as readily available truck capacity. Demand declined 38 percent for vans, 34 percent for reefer trailers, and 22 percent for flatbeds, year over year. Line haul rates fell 16 percent for vans, 12 percent for reefers, and 8 percent for flatbeds in April, compared to same-month levels in 2015.


      • ewtoriginal says:

        Your data is distorted by several large factors including auto sales (or lack thereof) but sitting on dealer lots and healthcare costs which continue to rise disproportionately. At least prices at the pump have popped in the past month…that helped retail sales I guess. Forced spending on a non-discretionary good…they woulda just saved the money otherwise stingy bast…

      • EL MATADOR says:

        and here is the Morgan Stanley TLSS update on freight transportation report from March 16 2016.


        So yeah the trannies are hauling arse as you imply

  33. s&p popped 2 points in mere seconds, now up the rest of the day unless something has changed

  34. pfm225 says:

    oil inventories……….down markets up………

  35. EL MATADOR says:

    keep your eye out for the hrly -div people that will be your short😉

  36. I see the “Doomsday Proppers” are at it again.

  37. manunidhi21 says:

    Namaste Tony.
    FYI :Brazil President impeachment vote tonight.

  38. In my opinion, short term (next few days) market is ‘likely’ to make the C wave lower, and so be somewhat bearish. But longer term (weeks and months), the market has just thrown another ‘wrinkle’ into the bearish case rather than the bullish case. That wrinkle is that today started out with a ‘gap’ lower. So, there is a good likelihood that gap will be filled at some point, meaning over the longer term that gap could be filled in a bullish scenario, indicating more sub-waves of Primary V could complete higher. It’s just an observation. It does not seem like a “wave three” gap at this point, as the point loss remains subdued.

    SPX - Fifteen Minute - May-11 1007 AM (15 min)


    • EL MATADOR says:

      50/50 chance we will see that gap closed today

    • Tony Jordan says:

      TJ always appreciate your work. Question: Regarding the triangle you cleverly deciphered a month ago (booked some good profits out of that trade by the way thank you very much), what do you think the chances are the 4 at that point may have been a 4 of one lesser degree and last Friday’s 2039 was in fact the larger 4?

  39. captbara says:

    Wave 4 or bulls are done. Cannot go below 2064

  40. EL MATADOR says:


    Nice job everyone🙂

  41. For those seeking the actual inflation rate: http://www.chapwoodindex.com/

    • ABchart says:

      Thanks Coyote. Who is this guy?

      • Scroll down; there a writeup. Difficult to have a single number for inflation as it presents by category. I easily believe these numbers for food.

        • ABchart says:

          Same problem in France, at least in major cities. Housing + food +10/15% a year. But the official CPI is near zero and growth at 1% 😂
          We call that stagflation, and it is the worst economic configuration whatsoever.

    • Inflation is there;CPI is just cherry picked. Sometimes it is hidden by shrinking contents of packages and keeping the price the same. I remember a few years ago the prices were raised saying it was a fuel surcharge but didn’t come back down as a fuel reduction.

  42. mcgcapital says:

    Move back towards 2040 next before another rally? Market will frustrate both sides some more before the big move.

  43. ABchart says:

    ES imbalance to 2065/67 (SPX 2071/73)

  44. aahmichael says:

    I’m short again at 2080. I see the previous 3 day rally as a symmetrical zig-zag.

  45. Here is where I think we are at present. Nothing has changed in the minor wave count. Nothing has invalidated. On Friday I said, “if the lows hold Monday I will be bullish again”. They did and I was. But that lasted for two days. If the high from yesterday holds today I will be short term bearish again.

    SPX - Four Hourly - May-11 0936 AM (4 hour)


    • ABchart says:

      Like your chart, but actualy I think we will go higher above 2100/105 as soon as tomorrow or Friday, before drop toward 1960/80 early June.

Comments are closed.