Update to my daily chart. We're back at the critical 1461.16 level. Normal price uptrend structure would've reversed had it not been for the intervention that seems to come right when prices are about to transition lower. Judging from the melt up we might break higher this time around. These gyrations are probably helping the heavy hitters get out of their positions before election day in case they're betting on a 2nd Obama term (Would he care about what happens to the markets in his 2nd term?) While indicators are getting overbought, price could break in either direction with a bit of a bullish break bias in sight.
Update to my daily chart. We're back at the critical 1461.16 level. Normal price uptrend structure would've reversed had it not been for the intervention that seems to come right when prices are about to transition lower. Judging from the melt up we might break higher this time around. These gyrations are probably helping the heavy hitters get out of their positions before election day in case they're betting on a 2nd Obama term (Would he care about what happens to the markets in his 2nd term?) While indicators are getting overbought, price could break in either direction with a bit of a bullish break bias in sight.