GDX & GDXJ
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ENERGY!
OCTOBER 16,2014 I saw so many reversals in the markets yesterday that I had to do a double take! I think the selling has exhausted and the moves upward from here can be an explosive mix of short covering and also buyers jumping back in to make some fast % gains. I want to focus mainly on ENERGY, since it was beaten down relentlessly, it may recover equally well. We all need ENERGY, right? It got ridiculously overdone... In PRE-MKT the markets are again down a lot. They are set for another GAP DOWN, but its worth watching intraday. Yesterday we gapped down and and reversed strongly, will we do that again? Is it a buying opportunity? To The Charts! (I apologize if you're short on time, This is a long report recording, you may just want to review the charts quickly on your own)
http://www.screencast.com/t/3xozpTzUwo - Right click link , then open in a new tab - look for 'download' and click it, then click "OPEN" and it should play automatically
XLE
That Extreme type of parabolic drop and sudden sharp reversal should be seen throughout the sector, lets examine several more charts ...
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That Extreme type of parabolic drop and sudden sharp reversal should be seen throughout the sector, lets examine several more charts ...
Read MoreQuick Market Update
Oct 15, 2014 In the comments section of this mornings post , just asked me about the markets. His friend is invested heavily and has taken the recent ride down...what to do? I thought I'd try to post a quick comment or two.
Right Click here / click 'down load' and click 'OPEN' to play
SPX WKLY
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