Steve, is 5860 to 5890 a good support zone which must hold for a possible squeeze higher?

Gold has so far outperformed GDX. I still see no professional activity on covering gold shorts. A positive candle today will prompt a bounce, while a negative close will drop towards 2528 on the futures and 230 on GLD (goold support). I see one more leg down on 15-min charts of gold futures, which could be a higher low.

25 points of premium on /ES.

/ES took out its support zone needed for wave 4 scenario to work. The next rally should be a lower high. The Trump pump seems to be over.

Matt, your systems volatility systems shine! is a stop on /ES breakout trade close? Is there a second entry likely?

A squeeze on gold 15-minute charts, likely to be resolved to the upside.

On Dec gold, a buy stop is the same as yesterday: 2586, a sell stop is the today's low. https://www.kitco.com/opinion/2024-11-15/where-are-stops-friday-november-15-gold-and-silver. We could have a pop into resistance 2600 today.

I have a timing window of 11/22 for a low on /ES.

My target of 5950 was hit overnight. I could count 5 waves from Nov 1 high of 6037 on /ES 1-hour charts.

Matt, There was professional buying on GDX near the close on 11/11, but a buy stop was never taken on the closing basis on 15-min charts. Following a trailing stop this way would have kept the position short (or flat) on GDX into today. Contact me for a chart, if interested.

If gold takes up a buy stop today, it could close above 2600 for the week tomorrow. I do not see a lot of professional buying near the lows today, however. IF.

Matt, your GDX 78-min system went flat today, while GDX is working on a reversal candle. It went long on Tuesday near the close. Did it look for a pattern on 78-min charts or also on a daily chart too? It went long near support.

1.27 is resistance (heavy!) on AREC. Your stop is at $.59 on the daily charts, but the daily chart is on the buy signal.

For today , 2541 is a sell stop and 2586  is a buy stop, according to Jim Wyckoff (that one!) on gold futures: https://www.kitco.com/opinion/2024-11-14/where-are-stops-thursday-november-14-gold-and-silver. 2580 is the minimal buy stop to go long, based on tickbar charts.

I still expect 2528 by the end of the week, which should be a bottom (38% Fib).

Gold spot touched 100 DMA (Displaced MA) at 2540, and is bouncing off it. In the past, 100 DMA has provided support since Oct 2023.

Technical analysis of gold with Gary Wagner: https://www.youtube.com/watch?v=a-rv829CvIM

I am told that there is a call wall around 6000 on SPX, which serves as a resistance. Below it calls are not going to be paid, so market makers defend that level.  I do not have an appropriate subscription level to confirm this statement. There is a support band into about 5900 on /ES, which is where wave 4 should land.

If the ABC set-up plays out on the indexes as it is going, the next move is lower into wave C with a minimal target of 5950 on /ES. Currently, wave B seems to be playing out.  Above 6051 will invalidate this setup.

I finally see professionals covering their shorts on gold futures. A touch of 2575 may be wanted by them before reversing. 2625 is a still a buy stop.