Gold has shown lots of volatility. June (M) Gold expires today.
July (N) is now the front month.

While there is not any trade location I can sink my teeth into in the Futures, I like the metals ETF’s as a long against today’s low for the shorter time frame trader.

July Gold Futures need over 1258 to turn up on the short term point & figure charts.

The Miners look to be the best value. GDX or GDXJ both look to
be reasonably low risk buys against today’s low.

I’m attracted to the Miners by the EUR/AUD cross.
This is breaking down and we’re looking for a rally to 96.70 in the AUD/USD.

Notwithstanding the usual mid-week shuffle, Aussie strength should be short term positive for the miners. We’ll look at this later in the day for a possible Long.

I do not feel compelled to rush into this trade, just keep it on your radar because
the sector is so bombed out!

Equity Indices…have retested last weeks breakdown levels matching the 110 levelin the IYT (Dow Transports) we spoke about yesterday. “So it’s tested resistance“

Spu’s…1590-92 will act as the short term pivot the rest of the day.

This will continue to be an area scalp and Time Frame Trade.