The outlook for the US stock market via SPY, QQQ & IWM as well as gold, oil & bonds via USO, $WTIC, GLD, GDX, TLT, JNK & HYG.
A quick update on a couple of the things that stand out this morning. First, GLD (Gold ETF) has gapped down below the purple rising wedge pattern. I still don't care to short it & just plan to watch to see if it can regain the wedge shortly or for the next objective long entry [...]
A relatively brief overview of the charts of the precious metals & mining stocks via GLD, SLV, PPLT, & GDX.
GLD is currently poised to open right on this uptrend line which is fairly significant support. While I'm still leaning towards a move down anywhere from 116 to 113, should GLD hold this support & move higher it could burn through the recent negative divergences that are still intact. GLD 60-min Feb17th close [...]
I'm still leaning towards more downside in gold & the mining stocks although my conviction still isn't very strong as as such, GDX is not an official trade idea at this time. A break & close below this secondary uptrend line on this 60-minute chart of GDX in conjunction with a break below the comparable [...]
The near-term outlook for the US stock market via SPY, QQQ & IWM followed by analysis on GLD, GDX, UUP & several trade ideas including GILD, CARA & SMH.
The outlook for the US stock market via SPY, QQQ, & IWM followed by analysis on GLD, GDX, SMH, WEAT, JJG & DBA.