Good Morning

It's always interesting to see if the post-FOMC price trend can continue through the overnight and into the following Thursday...and today, it has. This now sets us up for a compelling Friday and weekly close. We'll discuss that today but there are other items to cover, as well.

Let's start with this current 5-minute chart of CDG. Check how price was stable and fine...until...the Comex opened and then it was immediately worked/slammed lower. However, be sure to note how quickly that dip was bought. This is a very positive sign. It's not as simple as this but think of it this way...

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Key Economic Events Week of 5/20

5/20 9:00 ET Goon Waller
5/20 10:30 ET Goon Jefferson
5/21 9:00 ET Goon Waller again
5/21 11:45 ET Vice Goon Barr
5/22 10:00 ET Existing home sales
5/22 2:00 ET May FOMC minutes
5/23 8:30 ET Jobless claims
5/23 9:45 ET Flash PMIs for May
5/23 10:00 ET New home sales
5/23 3:00 ET Goon Bostic
5/24 8:30 ET Durable Goods
5/24 9:35 ET Goon Waller again
5/24 10:00 ET Umich final

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