Tuesday, October 4, 2016

Oct 4 - Mixed close, bounce might arrive tomorrow but after that who knows

SPY and NYA fell out of consolidation but QQQ, IWM, DIA are hanging in there.  Tough to say what will happen this month but because of NYA's breakdown from the consolidation zone I am inclined to think we chop downwards towards 210 in SPY but not with a lot of conviction.  For sure, I would be an aggressive buyer if we hit new lows around that area.

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...