Textbook Bounce For Gold

Gold is bouncing nicely today and working well for the dip buyers at 1200. Looking at a 30 minute chart, look how perfect the metal is trading– textbook like:

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From our recent poll, 55% of you guys are bullish on the metal here:

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I continue to like the action in Gold & Silver, as the metals are finally acting well as a hedge to the market. Here are your leaders today:

With the recent pullback in gold back down to 1200, are you a buyer of gold here? Please vote in our poll below:

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Oil is leading the day with the price of crude up a cool 6% this morning. Naturally, $USO, $OIH, & $XME are out in front today and leading the march higher. Here’s a short term chart of crude, which shows the $29 level as the point of control:

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As for our runner screen, it’s loaded up again with short squeeze ideas. CLICK HERE for today’s screen.

Here’s a look at the action today, all green:

Here’s a look at today’s hybrid mover screen inside Exodus, which produced over 400+ results today. This is an unusually high number for this screen, especially in 2016. I’ve imported every tickers from today’s screen to finviz for your viewing pleasure.

For those that feel like doing a little chart surfing: CLICK HERE FOR CHARTS.

Charts of interest for Wednesday include:

Here’s a look at today’s runner screen, courtesy of Exodus:

CLICK HERE FOR CHARTS

Tickers in focus inside our trading room, 12631, include: CTRP, NVAX, UA, MOMO, MBLY, CMCM, BLUE

It looks like we are going to walk in to a nice little short squeeze come the opening bell. The S&P futures are up 30+, Nasdaq up +90, & Oil up $1.38, now trading near $31. Oh, and gold getting smaked back down under $1200.

Coming into the week, here are the strongest industries on a weekly basis:

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Here are the strongest individual hybrid movers on a weekly basis:

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And, don’t forget to check out The Top 100.

Fireworks for the dip buyers here. See you guys at the open.