Got our pullback in a powerful wave "c"
Classic
$SPX - last weeks target taken out. Wave D should look like a double top, around 2400.
$GLD - I would not be caught holding gold here.
Energy holds support. I would be snapping up certain beaten down energy stocks. Window dressing means money managers need to show that they are 100% vested by the end of next week.
Canada also looks like a good trade. Seeing a broadening bottom pattern...
The fake news is reporting that financials were hit hardest, but $SOX was the bigger loser, and the $RUT was taken out behind the woodshed, and beaten like a red-headed step child.
Beware the snap-back rally, AA
No comments:
Post a Comment