Hi Ownwallstreet, thinking that they may fill that gap on the SPY chart soon. Lately they have been filling them pretty quick.
But there is the potential that this is a bull flag forming. I am still open to the round number of 3000 to get hit on the futures chart.
As far as gold, I bought JNUG into the close yesterday and sold this morning at 54. I was hoping to wake up to gold at 1400, but it looks like it is struggling a bit. Maybe one more leg down? Also looking like a bull flag as well.
I don't really have a buy trigger on JNUG yet, just had a divergence going into the close last night. Looking to see if we get some type of a 123 or double bottom soon. Then it will be time to back the truck up.
One last thought, the market is notorious for the spike and channel pattern, so we can't rule that one out yet as well.
A little bigger picture, we are in the middle of a pattern right now, so it could go either way, not the best place to take a trade, would like to see a pullback to the bottom of the pattern and fill the SPY gap, but then it could go back up. Still a bullish overall pattern until it breaks support.
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