Did You Short The Gold Break Down?

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In my weekend report I warned about a possible false break down in Gold.   I received emails saying that many 'shorted this sucker for the final flush down phase'.  I repeat, Please use & honor your 'stops', I see things differently.   I'll explain after a market review.

The SPX was looking bullish and I expected a break to higher price, but today there are areas that need to be noted and watched.

SPX 11-30

IWM - This also had a semi high volume rejection at the 200sma. That doesn't mean that it is done, but we'll watch to see if the 10sma or another area of support can hold it up.

IWM 11-30

Here is where it gets interesting...

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Light Holiday Trading?

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This was possibly going to be a slow week of holiday trading, with Thursdays markets closed in the U.S. and 1/2 day Friday. In some areas we actually saw some noteworthy changes. Lets take  a look at our weeks activities.

SPX - No change from what we expected, but we should see a push higher soon.

SPX 11-27  

This is encouraging ...

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Bullish Changes

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Today is Wednesday and the last full day of trading this week for the markets in the U.S.  There were some bullish looking moves yesterday, some expected and another was a little surprising. Lets review. 

SPX -  I expected a little drop, likely to the 10sma, and a BUY opportunity for UPRO, TQQQ, or another long vehicle that you may trade.

SPX 11-24

I posted this chart of UPRO yesterday, using the 10sma as a guide. The 2nd one was at the close.

UPRO 11-23Upro 11-24

That was a perfect "Buy" opportunity, but It could still be bought here if you missed it.

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