Market Analysis and Trades for 8/11
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The weekly post for SPY 0.00%↑ and QQQ 0.00%↑ should be reviewed prior to this. It can be found here Market Analysis for the Week of 8/9 and here: GOLD IS ON THE MOVE
Another sloppy day in equity indices as last week’s early gains are digested. Last Wednesday’s high remains in place, while sellers have found little to no traction lower. Gold remained firm, taking out last week’s high but as mentioned in the weekly plan for gold is coming into an absolutely massive test.
My slight lean would be some early weakness in equities tomorrow, which could produce a buyable dip at least for a trade.
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