Thursday, December 10, 2015

Dec 10 - Equities bounce but for how long?

We got an oversold bounce today and still room for more drift down prior to the FOMC announcement.  I would prefer to see a retest of recent lows to go long but so far we aren't yet there.
GLD continues to go sideways and at some point it is probably coiling for a big move.  I added to my GDX Jan call spreads by adding Mar spreads also.

Bouncing today but easily could see whipsaw and a reverse tomorrow.
 Still not oversold and volume today not strong so not going long here.

I'd like to see a spike up to see the upper BB tested and CCI/ stochs max out.  Not yet there.

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