Silver breakout occurs above 24.2, invalidation below 20.8 on /SI front month,  from a cup and handle formation. https://investinghaven.com/silver/silver-about-to-test-a-secular-breakout-point-what-it-means-for-investors/ 

According to Andrew Maguire, 1820 is the new possible low for gold, stair stepped by $200 from the last year's low. https://www.youtube.com/watch?v=f5WLOPk8WQQ

/GC closed lower last week but did not make a lower low. I would expect a similar price action for next week. As Andrew Maguire says, low 1900's is a far as /GC could drop now. If it goes there before proceeding with the rally, it is a gift to load up.

rbreese, What does matter? Price levels coming from large players, and demand based on geopolitical concerns. I listen to Andrew Maguire, who voices this very well. https://www.youtube.com/watch?v=B0wsJ3tyaSk  He makes a point repeatedly that big banks are trapped on the short side. I do not view them as smart money as they once were. Shorting gold at the current prices is like picking pennies in front of a steam roller.  

To clarify, technical analysis is only for short-term trading. Big players use supply and demand zones, which is why you see vertical moves in gold.

rbreese, yes. Gold does not follow technicals as much as indexes do. It behaves like a currency.

rbreese, I would not trust positioning of the commercials (large banks) on /GC, as they need not be profitable from their shorts: central banks and other entities are buying all physical gold they can find. Those positions are not printed on the CofT reports!

great, thanks a lot! Yesterday's low should be a stop, above 4040 (the top of wave 1) on S&P for a large position.

excellent, thank you!

Matt, do these white dotted lines correspond to price levels or volume levels?

Risk to reward ratio on S&P long now is about 1:1, given the maximum target of 4300. Thanks for the update, Matt!

Wait till May, Fred, for a big one. A panic cycle is slated for May, courtesy of Martin Armstrong.

S&P Fib extensions are 4217 and about 4300 (168%) from the last week's low.

/GC is closing lower for the second week, yet above the breakout line for the quarter.  Any strength into the end of the day is an opportunity for a small short.

Chicago wheat is stable after today's USDA report. I added to my position. Soybeans are exhibiting strength too. Corn will present a pullback as its buying opportunity.  

High-volume peaks on /ES are 4118, 4165, 4178, and 4205.

Martin Armstrong says that a directional change will occur next week. So nothing for today, IMHO.

4080 is likely a target for the close today.

Gold and GDX will move after the end of the quarter, possibly tomorrow. So far gold holds the breakout level.

For those in the wheat swing trade, tomorrow is a WASDE report released at noon. It is a major report on grain stocks. Typically there is a sell-off into that report. Any big drop is a buying opportunity. Prices may move 20 to 40 cents after that report.

I find it useful to view 6 time frames: 15, 30 minutes for short-term or day trading, 1, 4-hour, 1 day, 1 week for swing trading and position trading. A recommendation for day trading is 5-minute charts. Higher time frames give information on the trend, while lower time frames suggest development of that trend through fractal analysis.

QQQ should break out above 313. 315 should be a confirmation. As a hedge, gold should drop along with GDX.

I will need a bigger graphics card with 8GB instead of 6GB for a third trading app, LoL! I am already running TradeStation and ToS for various indicators at the same time. ToS is a graphics memory hog!

Matt, thanks again for sharing your style. Is there a good risk indicator that works for you to make these calls? $VIX was down yesterday, while HYG was down too. I trade MES, and need to be aware of stops for overnight action.