Friday, December 18, 2015

Dec 18 - Equities bounce possible next week, GLD/ GDX maybe finally basing

I'm not super confident of this, but we could see a bounce next week with the oversold conditions and am adding modest amount of VXX shorts.

At the bottom of the range and the market will need to catch a bid by this afternoon or Monday or things might collapse.

Buy signal on hourly but no positive divergence so beware.

GLD might finally be settling but I have said that over the past few weeks.

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...