Over the past eleven trading days, the ProShares UltraShort Gold ETF (GLL) has seen a massive increase in volume. Large volume spikes often foreshadow trend reversals.
1200 is still the upside target for the S&P 500 futures, but the 1155 value registered earlier this week also represents an Achilles heel which may need to be tested again before the April highs are challenged.
Over the past few weeks we have been focused on the question of whether the Fed will increase stimulus. Now that another round of quantitative easing is all but certain, the new question becomes how aggressive will the Fed be?
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