Our short in Goldman got off to a nice start with yesterday’s $2.50 decline, but lest we grow complacent, I’ve highlighted a possible ‘camouflage’ buying opportunity for night owls in the E-Mini S&Ps. It would leverage a tiny, uptrending abc pattern on the hourly chart that is bucking an even larger, bearish impulse leg created by the very tail end of yesterday’s decline. On balance yesterday’s action was bearish, but it’ll take another two days’ worth of selling before we can relax and count some chickens. Also: Amidst the airless tedium in Comex Gold, check out today’s tout — not only for what could turn out to be a pleasant surprise, but for a potential low-risk, bullish trading opportunity.
