The large-cap stock indexes ($SPX, $NDX & $DJIA) all continue to wedge higher while expanding the existing divergences within striking distance of new highs. Whether or not they make a marginal new high soon, the next decent sell signal is likely to come on a break below these 60-minute uptrend lines as shown on /NQ (Nasdaq 100 futures) and /ES (S&P 500) below.

/GC (gold futures) has now clearly regained the key 1500 level, putting the bear trap scenario in play with all of the precious metals rallying overnight despite a concurrent rally in the “risk-on” stock index futures.

GC 60m Sept 12th

GC 60m Sept 12th

/SI silver kissed the 18.381 target earlier today, followed by the typical reaction with the next buy signal to come on a break above that level.

SI 60m Sept 12th

SI 60m Sept 12th

/PL platinum also continues to rally following the recent divergent low & reversal off the 930 support. As with the /SI silver chart above, I’ve added a minor uptrend line that could be used to add to positions on pullbacks or a relatively aggressive/tight stop somewhat below, ideally on a 60-minute closing basis.

PL 60m Sept 12th

PL 60m Sept 12th

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