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US Equity Market Outlook, Jan 18, 2016 (video)

Near-term & intermediate-term outlook for the U.S. equity markets including key support & resistance levels as well as some near-term bounce targets.

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Jan 18, 2016 7:12pm|Categories: Equity Market Analysis|Tags: , , , |3 Comments

3 Comments

  1. Kstellish January 19, 2016 8:01 am at 8:01 am

    What’s your thoughts on the GLd, the miners and USO?

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  2. rsotc January 19, 2016 11:04 am at 11:04 am

    GLD still looks ok for now & is currently testing a support level while trading only slightly down today. Once again, GDX seems to be ignoring this by trading down sharply. A reversion to the mean should begin soon with either gold selling off to follow the miners lead or vice versa (miners rally & play catch-up to GLD). Today’s sharp move down in the miners appears to be that wash-out move that I discussed in the recent video, i.e.- this selling is the result of a solid break below the 12.90 level which has likely triggered a lot of stop-loss orders on GDX, many individual miners & the leveraged mining ETFs. The fact that SLV is trading up over 1% today helps support the case that the sell-off in the miners today is more likely due to that support break & stop-runs/capitulation selling than anything else.

    USO charts & updates to follow soon but in a nutshell, the case for at least a near-term reversal/rally can still be made as of now

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  3. Kstellish January 19, 2016 5:44 pm at 5:44 pm

    Thanks Randy. It’s been a little tough to watch the last few days. Feel better about the case for GLD than USO, though. USO Is hanging on a cliff.

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