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Did you see the $USD? Did you see the QQQ's? Did you see $Gold? Looks like "Happy days are here again" ? Well the markets certainly did react strongly after the ECB announcement, but will it last? Can it last? It really raised more questions than it answered, so lets look at some charts.
SPY - Which was struggling below the 50 sma got a bit of a boost yesterday
In some ways , the 3 Q's looked even a bit better...
Read MoreMany times when markets move , they are often setting up for the next trade. As things are setting up , Its not always possible to tell if the set up is Bullish or Bearish. I have mentioned here what I am seeing in the markets, but with the ECB meeting taking place and the results of that meeting not being released until (supposedly) 8:30 Eastern time, the goal is patience. Often traders & investors dont realize that over trading can cause one to slowly give back the gains recently made. So while we need to invest to make money, we also need to learn patience to be able to avoid knee jerk reactions and head fakes. While we wait....Quick review.
NOTHING has changed with the SPX,QQQ,DJIA, etc
Like yesterdays report 'Groundhog Day" mentioned, as time goes on, not much has changed. One thing I did notice is...
Read MoreI feel like I'm living in that movie Groundhog Day, where you wake up and though some things continue to change, its just a repeat of yesterdays events. The equity markets moved a bit , but its the same old movement, and leaves me with the same conclusion. As for GOLD & Miners, NATGAS, and Oil? I am expecting changed that I will discuss here.
First lets look at the SPX as of yesterdays close
You can see that we are getting the same movement as expected and ...
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