Tuesday, July 12, 2016

July 12 - 225+ SPY on the way

We are insanely overbought here on  short time frames so wouldn't be surprised and actually would like to see a pullback to go long equities but not sure if the market will cooperate.  That said, I am not going short for now.

Still short SLV/ GLD.


If we retraced to the yellow box, it would be a gift for longs.  I would be an extremely aggressive buyer at that level.

Also looking for a retrace here.
 VIX is looking strong today increasing the chance of a pullback

 Negative divergence still developing but price hasn't confirmed in a robust way yet.  I am considering that perhaps we correct sideways through time rather than price.

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