April 10th – CHOP CHOP CHOP

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The markets remain a bit choppy, but some of the set ups that we have been discussing are beginning to play out nicely.  I have a few more trade set ups for us too, so let's review...

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USD -  Starting with the USD, this may pause here for a bit.  A short dip in the USD could cause a short pop in Gold & Miners.

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April 9 – Weekend Report

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As time moves forward, the Market big picture always become clearer, so let's see what has been happening this week, with a few added 'surprises'. I'll also add in 3 more trade ideas.

 

SPX - This is a possible inverse H&S forming now. The DCL would be the head, and whether or not you took a long trade while waiting to see how this develops ( I have had concerns based on the XLF and a few other factors) you can see that you have not missed any great move in these choppy markets.  Notice that Price is STILL the same price as day 1, the first day after the swing low!   That said,  If you want to go long based on the possible inverse H&S and place a stop under the 50sma with a little wiggle room, this is as good a place as any to do that  risk reward wise.

NYA -  I was concerned with the dropping MACD , so I still have concerns there...

XLF - One of my main concerns was the financials and bank stocks like  GS, BAC, JPM, etc. Until I see a recovery, I will still be concerned, but again, price is at a low risk reward area in some of the General Markets. I am not Long or short currently.

NASDAQ -  We Don't want to get too bullish and forget this chart from Thursdays report of the NASDAQ on Wednesday. This is still in place and that MACD has dropped further.  Markets have just been very choppy and volatile and I am still cautious on their ability to gain more upside at this point. They need to prove themselves and the Financials need to do that soon, in my opinion.

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