Market Recap 5-24-16Discussed in following order are: GLD, SLV, GDX, USO, SPY, QQQ, SMH & $SOXX (semi-conductor index) with some brief additional commentary & trading notes at the end.Related posts:May 10, 2016 Market Recap (video) Market Recap 7-20-16 (video) Monday Market Recap Market Recap for May 12, 2016 Market Recap for May 19, 2015 May 24, 2016 10:13pm|Categories: Equity Market Analysis, Gold & Commodities|Tags: $GOLD, $NDX, $SILVER, $SOX, $SPX, GDX, GLD, QQQ, SLV, SMH, SPY, USO|10 CommentsYou are welcome to share this!FacebookTwitterLinkedinRedditTumblrGoogle+PinterestVkEmail 10 Comments freezer May 24, 2016 10:37 pm at 10:37 pmThanks Randy,You covered use but any thoughts on the Xop short or shipping stocks?0 rsotc May 25, 2016 9:14 am at 9:14 am@freezer I just updated the XOP GUSH short in a new front page post. I’ll take a look at the shippers & give you my thoughts asap.0 rsotc May 25, 2016 10:01 am at 10:01 amfreezer, Overall, the charts on the shipping stocks appear to be firming up once again & they could be poised to rally if the broad markets can follow-through on yesterday’s breakouts. I’ll have to study the charts further to see if I can find any promising setups with attractive R/R profiles.0 jacant May 24, 2016 11:32 pm at 11:32 pmThanks for Recap!0 pangblood May 25, 2016 12:17 am at 12:17 amThanks for the update Randy! Keep it up!0 Eric K May 25, 2016 7:07 am at 7:07 amThanks again for the analysis Randy! Very helpful.0 dan123 May 25, 2016 10:23 am at 10:23 amGreat recap, thanks0 pangblood May 25, 2016 12:38 pm at 12:38 pm@rsotc Randy GLD almost hit your preferred target, what should we do with our GDX short? Are you still waiting for 21.46 on GDX? I reduced my exposure to about 2/3 waiting for a pullback to re-enter.0 rsotc May 25, 2016 2:00 pm at 2:00 pmFor the official GDX / NUGT short trade, the official final target is T3 at GDX 21.52 ( http://rightsideofthechart.com/price-targets-for-nugt-gdx-trade-idea/ ). T1 & T2 were already hit (which I’ll post an update soon). The 21.20 GDX level & 155.70-116.00 GLD levels are the actual support levels which I believe that either both or the first of either GDX or GLD have a very good chance of reaching before this pullback has run its course.0 tomnichols May 25, 2016 6:45 pm at 6:45 pmgreat work…thank you0Comments are closed.