Gold
Gold still gets a neutral rating on the EdgeFinder due to economic factors in the US. However, the trade war in the Americas and China has started to take a toll on financial sentiment. Investors flock to safe haven assets like gold and silver which continue to rip higher on bets that demand will decline for the dollar. Yields are falling another 1.5% this morning going into today’s session. As long as this trend continues with yields/dollar, gold might keep finding new highs with occasional pullbacks. Market have been choppy the past few days.
-Frank

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S&P 500
The past four days have closed near break even while the last 8 days have not moved. Tariff talk has shaken the market but has not broken it. Every swing lower has ended coming back up to the open price inviting day traders to buy the dips. We need to be cautious here since we are still near the highs. Choppiness will likely continue, but eventually something will break on either side. The past several days have slowly gotten less volatile and looks to be forming a wedge pattern on the 1D timeframe. ADP NFP came in higher than expected which could push back against tariff uncertainties.
-Frank

Data from EdgeFinder
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