With theFed continuing to hold the equity market up with their endless buy programs they are starting to lose control of the gold market.
With so many short interest in the gold market a continual rally in gold could easily trigger unexpected panic short-covering rally that can cause gold to spike up uncontrollably. Uncontrollable rally in gold price will put a limit on the ability of the Fed's to print as much dollars as they would like, so it could be bad for the stock and the bond market.
For Tuesday key price level for ES is 1795 and for NQ key price level is 3580
-- Bullish above 1795 for ES and above 3580 for NQ.
-- Resistance for ES are 1810 and 1820, support are 1790 and 1765
-- Resistance for NQ are 3595-3600 and 3630, support is 3535
