Hello Everyone,
Quick Comments: Both SPX/QQQ pulled back some following the FOMC Minutes but managed to hold prior lows and then rebounded into the close and moved higher following NVDA. SPX has yet to take out it's prior high just above 5325 so let's see if they attack that high. With that said, I'm in the camp that the SPX/QQQ have limited upside in comparison to downside here for swing traders. Continue to trail and adhere to stops on any swing longs.
Last night I mentioned that I favored Gold lower and that unfolded nicely overnight and then accelerated down after losing key support 2407 as posted earlier on the blog.
Please take a moment to look at the trade ideas.
