Yesterday we saw the market end flat, and on a bearish candle, after money managers rushed in to buy the $SPX 4450, and Dow 35,000 levels. Nice round numbers. As you can see on the chart below, that does not back-test support.
Please try again!
$INDU - wait for a gap fill, and then wait for confirmation of a continuing rally.
Natural Gas
$UNG looks like it might bounce out of the hole this morning, and could still trade to new recent highs - in one of my favorite a topping patterns. If we see is go a little lower, the 50 day moving average is trading at 16.95. Mark it!
$KOLD 3X NatGas Bear - We're about to find out if the Hedge Funds are manipulating Natural Gas by shorting the leveraged Nat Gas bear fund. I've been waiting weeks for this moment!
The 3X Long NatGas bull is $BOIL, but charting 3X bull funds is futile.
Checking the 3Xtraders Public Charts area, to see if anything else is work trading
#SOX (Semiconductor Index) chart added. The court jester, J. Cramer, gave the "all clear" on this one yesterday, but watch the 50 day ma!
If you're looking to trade into the 3X $SOX Bear, try the 6-6.25 level. I'll even add the chart to the public charts area.
Gold gets a bounce!
$GLD (paper gold) to regain the 5 day moving average. Not really seeing a trade there, unless it can break out of the bearish channel, it's trading in, and get some traction, above the 200 day ma.
Same goes for SILVER
$SLV (silver) - continues to trade in a bearish channel
Silver did bounce off key support @ 21.40. See the long term chart - located in the PC area.
Here's one to add to the public charts
Long the Euro/GBP reversal!
Good luck, AA
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