Unless you are a short term futures trader or trying to time a large purchase of physical, the daily pops and drops don’t matter. Given that, here is my take for this week.

After another nonsensical drop on Friday, based on another stupid economic data release, normally, we would see strength on Monday and the usual Tuesday takedown.

There is a twist however. The COT numbers were delayed until today’s close, “because” of the midweek holiday last Wed. They might show a large amount of shorts covered in the previous reporting period. Bottom line is, Monday might be the best entry point of the week, although the big rally, is unlikely to begin until the week, month and quarter end.

I used the mid day dip today to put on a small, long position. I expect to add this week. While any explosive upside breakout, is more likely next week, I want to be IN before the Thursday, Friday economic numbers. I don’t want to take the chance that the party starts early and end up having to chase. If you are bullish and expecting a big run soon(I am and do) I would rather be two or three days early than even one hour, late.

The first half of 2024 has been, just a taste of what we are likely to experience in the second half of the year. (This isn’t investment advice, just my opinion.)