In the front part of last week’s note I wrote:
So did gold and silver get to ‘big’ supports yet? I don’t think so. This week I outline dip buy levels once again.
We saw metals decline again and I bought the dip!👀🤞 $GC/gold futures has yet to breakout on a weekly basis, so now I’ve outlined what I’m looking for there this week.
Because of the ‘mixed signals’ that I mentioned for the indices I keep my trades there light and scalpy and ‘mixed signals’ was quite accurate given $NQ/Nasdaq futures closing slightly green, $ES/SPX futures closing exactly flat, and $RTY/small caps futures closing slightly red. My levels were excellent and I bought $ES/SPX futures at support and shared on Thursday morning that the ‘double flush’ was bullish. 🎯💰
If you follow me on Substack, you saw one of the tech shorts I took 2 weeks ago was $PLTR. It closed -6.42% down last week. You also saw me close ¾ of the $TSLA long I took at 316 at 382. (booya!)
Annnnd I took yet another tech short last week. 👀
Summary of Market Action Last Week:
· The indices futures declined into midweek and then bounced. Friday we saw a slight pullback. $ES/SPX futures closed precisely flat for the week, $NQ/Nasdaq futures eeked out a slight gain, and $RTY/small caps futures closed marginally red.
· Precious metals declined once again, but $GDX/gold miners closed the week green.
· $CL/Crude Oil futures and $XOP/oil equites both gained for the week.
Here’s how last week closed out:
I broadcast hourly charts with weekly and daily levels 23/5 on Discord while futures are open. I give commentary and positioning during market hours.
For the week ahead (9/7 – 9/11/26)