Friday, September 26, 2014

Sept 26 - Closing update

Looks like that oversold spike materialized and unfortunately without me as I was busy this morning.  I am even more directionally neutral than yesterday as we were oversold on short term timeframes and now 60 min are bullish but in neutral zone and 30 min slightly overbought.  Daily charts look primed for an intermediate move up if things stabilize here.  Volume was not great so we could easily see things switchback on Monday.

Going flat into the weekend.

Here's the expanding wedge and more to follow later...

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July 11 - GLD sucks

stopped out of GLD yesterday for -25%.  Holding off on reentry and maybe will enter if we drop another level. SPY on the other hand is crus...