Tuesday, February 17, 2015

Feb 17 - Possible for major upside

Last week we broke decisively upward from the long term consolidation zone.  In particular, QQQ and IWM look promising having established nice bases and are leading the move up.  We are also heading into very seasonally positive months of Mar-Apr.  On a short term time frame, the tape is trending very clearly.  For targets, I will looking at the roughly the upper trendline which has often produced consolidation/ pullbacks but that is quite far away.

No comments:

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...