Monday, August 23, 2021

SPX and Gold: No Material Changes

SPX has continued to bounce out of the bull: iv inflection zone, so there's absolutely nothing to add since last update:

Gold has also continued to hold its downside target, and has now bounced more than 100 points, to back-test blue.  Bulls want to see that zone reclaimed.  On the downside, the key zone remains the same zone I previously identified, and in the event the inflection zone low were to fail markedly now, they'd want to be exceedingly cautious, as a breakdown there could hint at a bear nest:

In conclusion, no material change since last update.  Trade safe.

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