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Friday November 20, 2015
Read MoreThe picture started getting clearer in many sectors of the market after the Fed Minutes were released Wednesday afternoon. Lets take a look.
SPX / SPY - Looking for an overhead follow through and within the timing for a DCL. The 200sma acted as resistance.
Bullish Break through, I expect higher prices and will watch how the follow through plays out.
Read MoreWe saw GOLD break to new yearly lows yesterday and I read in several different places that people were going short for the drop to below $1000 (Again). We will discuss why I do not agree that this is the time to be going short. NATGAS remains interesting and OIL and Energy Stocks continue to have my attention too, so First lets look at a few other charts.
SPX - The markets stalled at the 200sma and a down trend line that I mentioned earlier. We could drop to the 50sma, but timing wise, we are due to go higher soon.This may be a pause before breaking above that 200sma.
The USD has been strong , but it may be due for a rest. Yesterday was a short term topping or reversal candle, but it is not a strongly reliable one. If the dollar is due for a rest, what might that do for the commodities that are now being heavily shorted?
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