I’m a bit under the weather this weekend so I will leave much of the analysis to MTPredictor developer Steve Griffiths who did an excellent video last week analyzing the NQ. You can watch that video below.
In the meantime, just to recap the week briefly, the ES and YM have blown through their last weekly DP resistance areas with the last weekly DP resistance from the 2007 ES highs in sight now at beginning at 1705 and continuing all the way up to 1806. The Dow 16,000 will be the next big target there.
The MTPredictor gold and silver wave 4 shorts are playing out nicely in the direction of wave 5. Stops can be moved to break even at this point.
Next week is a holiday here in the US so there will be no update next Sunday.
Before I go, next week also starts the 13th Online Trading Expo presented by Trader’s World magazine. You can sign up below. There will be many great speakers so don’t miss it!