Tuesday, April 5, 2016

Apr 5 - Equities fall into danger zone

SPY has fallen below its trendline and some bearish things emerging unless we see a late day ramp up.  Volume although increased, not of the strong kind so I am letting this play out for more days and it is possible I miss this down move as I would rather short the bounce than chase it.

My NUGT short went underwater today but looking to hold as GLD is printing exhaustion candle and high chance for more chop.

In consolidation and looking for break below

Still in upper end of the zone

SPY broke its RSI trendline which isn't good
 Broke 30 min trendline.  The reaction or lack thereof will be important

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