front month gold futz

1550ish being tested on a longer term basis and also shorter term with the bulls trying to cling to a triple bottom scenario. I'd consider it astonishing if 1550 manages to hold much longer...

I'm playing for 125 to 130ish GLD in the coming days and weeks

Logarithmic GLD weekly basis going back a decade...

Crude oil one of many flags/wedges building out there

With correlations at 1:1  there are lots of flags and wedges coiling up out there, from international stock indexes to commodities. Two commodities most important to politicians and central bankers being gold and oil look pretty ugly technically speaking...

Japan 225 wedge..

so apparently the 225 wanted to add another hump in the building coil.  I'd be more worried about them jamming it up hard and fast to the upside if the wedge was leaning with lower lows but this one is building pressure to blow to the down side.. or so I'm thinking..

Looks like they are setting up a smash and grab in gold

/ES is building a nice triangle/flag right on that 1300ish support while gold is struggling to hold the 1550.  This leads me to believe they will take /ES down hard just to run the stops below 1550 in gold and when she breaks it could be pretty massive. I have no doubt that the CB's will accumulate on the collapse in price.. or so I'm thinking.

Did the Japan 225 just shit the bed ?

Depends on whether this flag/wedge has any predictive value I guess...

Lowering my target on UGA.

Based on the idea that GLD, SLV, SPY broke out above the longer term channel and now must collapse down violoently. the UGA channel (drawn be ignoring the upper channel break) is calling for 45 to 46ish.
That's plenty of room for all assets to collapse much further.  I think I'll take all positions off and look to nibble long when that area is tested...