For week of Jan. 20th: Markets closed on Monday for Martin Luther King, Jr. holiday. The Sun enters Aquarius on Sunday and squares the Nodes of the Moon on Wednesday. The Sun/No. Node square, roughly 90 days after the last Solar Eclipse, makes this a high energy week for increased volatility. On Friday, Mercury trines Mars.
Key planetary resistance for the E-Mini continues to be at 1843 that held the high last week and support at 1830 needs to be broken to show more weakness for a move lower again this week. This week’s key reversal days or turning points in all markets are likely to be on Tuesday and Friday. Good trading to you!
Commentary on Gold: Feb. Gold continues to show strength but hasn’t been able to break through important planetary resistance at 1253 that held last week. A break out above 1253 should take price up to at least the next 1270 target or 1289 this week. Important planetary support remains at 1217.