The sideways chop and short covering spikes is caused by recurring
buy support conflicting with significant sell pressure.
As mentioned, the big picture remains bearish and this will ALWAYS
exert the most influence. The only thing GUARANTEED is that the
bearish medium/long term cycle will have the upper hand.
The recurring buy support, panic buying and short covering results in
SP500 being very overbought again and likely this will cause another
waterfall sell off.
GOLD bias is choppy neutral (ie no consensus)
GBPCAD short 1.5899
USDCAD long 0.9736 [c 0.9770]
USDSGD long 1.2025 [c 1.2035]
SP500 Emini short 1214.25
NZDUSD short 0.8535
AUDUSD short 1.0679 [c 1.0680]
SP500 futs intra day chart now gives bearish warning so maybe
yesterdays rally is ending.
AUDGBP short 0.6555 [c 0.6554]
GOLD bias is now neutral.
XAUUSD long 1825.95 [c 1835.45]