We looked at two of our favorite trading vehicles, namely Comex Gold and the E-mini S&Ps, and found little to comfort anyone who is short either. Goldman Sachs was keeping an otherwise weak market buoyant, so we focused on the stock’s immediate prospects — specifically, on the high likelihood of a run-up to a target 5 points above. We also pored over the intraday charts of July Wheat, finding some very low-risk entry points to board a rally that looked bound for at least $6.37 per bushel. Natural Gas was bullish as well, but after considering the quality of its impulse legs, we reasoned that a cautious entry was warranted, if at all.
