GDX has now moved solidly above the 14.05 resistance level, opening the door to a rally up towards the 14.50 – 14.60 are in GDX in the coming days. Today’s breakout in GDX was also confirmed by the breakout in the EUR/USD bullish falling wedge [continue reading…]
GDX (Gold Miners ETF) has taken out the minor downtrend line discussed in yesterday’s video, with some very impulsive follow-thru so far (translation: Bullish). Now looking for a break & especially a 60-minute close above the next key resistance level to 14.05 which should open [continue reading…]
Next sell signal on IWM (Russell 2000 Index Tracking ETF) to come on both a break below this uptrend line & a bearish cross on the 28/68 ema pair (15-minute chart):
A break & 60-minute close above R1 (14.05) is likely to spark a rally up to the 14.50-14.60 area in GDX.
With FDX (Fedex Corp) trading down nearly 3% today, I’m guessing the initial results from Cyber Monday are less than expected. FDX will be added as an Active Short Trade here with the first & final target of T1 at 145.27. Additional targets (T2 & [continue reading…]
I’ll be leaving town for the remainder of the week & don’t plan to post any market or trade updates until I return. Even if I wasn’t leaving town, as I’ve stated several times in the Trading Room recently, that the abbreviated Thanksgiving holiday trading [continue reading…]