The metals have stabilized, the CoT is getting cleaned and Comex open interest is back to multi-month lows. All of this comes at a time when nearly every "analyst" has suddenly turned bearish. Well, not your humble host. Instead, we see the potential for a surprise rally and, oddly enough, the looming expiration of the Dec16 options makes us even more optimistic.
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Key Economic Events Week of 4/22
4/23 9:45 ET S&P flash PMIs
4/23 10:00 ET New home sales
4/24 8:30 ET Durable Goods
4/25 8:30 ET Q1 GDP first guess
4/25 10:00 ET Pending home sales
4/26 8:30 ET PCE and Core PCE
4/26 8:30 ET Personal Inc & Spend
4/26 10:00 ET April UMich
