Just a few thoughts here, not much has changed. I had one reader ask me to review the QQQ's , so I will do that and also use the SPY as an example, but first GOLD. The outworking of GOLD continue to look and act like a "Shake out" & then the final "Lock Out" have occurred. I actually have people writing me saying they are going to short the 20sma and also will short again at the 50sma. One asked me "I added shorts today , when will you be?" IF THIS IS A LOCK OUT move, shorting is extremely costly. We might get pullbacks here and there on a daily chart, but A short cover rally accompanied by buying can cause a somewhat pause-less rally and the mental damage can cause one to just freeze. So historically, Please look at this Weekly chart ....
AUDIO CLICK HERE click here / press download then click OPEN and come back to follow charts
Better to short this , or buy the dips?
Next lets cover Gold as I see it this am ( 6a.m.)...