Phoenix

32
Tue, Apr 6, 2021 - 10:51am

The Comex digital metals are attempting to rise and rally like the proverbial Phoenix or the ghost of Tom Joad. Is this rally sustainable. Can it lead to higher bouncing highs and and eventual return of Spec excitement and cash? Time will tell but we can always search for clues.

Let's start with the two primary HFT algo drivers...the POSX and the bond market. Last Tuesday with CDG at $1680, we spent a great deal of time dissecting the charts and determining that the POSX was largely overbought and due for a pullback. The projection was about 92.50-92.60 and the support that would...

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