These are very tough times to make market prediction on daily basis, given the amount of volatility. The opex thursday would be volatile day of the week and my numbers could be off (especially at the top end). As i start writing this note, ES mini futures are at 1181. For thursday, i see support at 1177. A break of 1173, i would consider bearish. But i do not expect a bearish close tomorrow. Rather we are likely to push up from the lows, to test 1201 first, and very likely higher to 1212-1216 area, which i consider to be the next resistance area.
Short term gold target is at 1808, for thursday. As i write this note, gold futures are at 1796. As gold nears its record highs, i want to bring the stop on it tighter, to yesterday's low area of 1781, up from previous 1772. My guess is that by this weekend, it is going to test and break current record high at 1817.
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