Commodities and shares have been on hearth the previous two weeks and I believe it simply could also be time for issues to take a breath. While I proceed to remain lengthy, taking some cash off the desk to lock in income is a protected play. Just from a fast look on the charts we will inform the chances are pointing to some kind of pause or pullback within the coming days. I determine any day now we might see some revenue taking.
Gold ETF Trading – GLD The Gold ETF is one in every of my favourite buying and selling automobiles. Using easy pattern traces and looking out on the current value motion you’ll be able to see that the worth of gold is trying prepared for a pullback. Buying at this degree is chasing and that usually means you purchase on the excessive and panic out on the low.
Silver ETF Trading – SLV The Silver ETF appears to be like to be in the identical boat as gold. I count on to see some sideways value motion or a pullback.
Natural Gas ETF Trading – UNG The Natural Gas ETF certain has given everybody a wild journey previously 6 months. The bear market remains to be in place which could be seen on the every day chart. So far this week the worth has damaged down and buying and selling on the $ 11 help degree. This fund might generate a purchase or promote sign with my buying and selling mannequin within the coming days so I’m ready for a transparent entry and exit level earlier than leaping on the fuel wagon.
Crude Oil ETF Trading – USO The Crude Oil ETF has damaged above its resistance pattern line this week however nonetheless struggling to maneuver above the August excessive. Volume is reducing whereas the worth will increase which is a bearish indicator. USO appears to be like prepared for some kind of a pullback because it digests this breakout earlier than transferring greater.
Mid-Week GLD, SLV, UNG, USO ETF Trading Report What does most of the people hear and take into consideration the inventory market? From current emails, native monetary information exhibits, household, pals and so on … all I’m listening to is how robust the market is. Indexes are making new yearly highs and firm earnings are higher than anticipated this quarter. Sounds like all we have to do is purchase and life shall be nice!
Well in my view the market is the proper device for misguiding and irritating most of the people. All my indicators are telling me we want extra of a correction earlier than rallying a lot greater. The market (good cash) usually anticipates good and unhealthy information a number of weeks if not a month upfront. So the query is:
Are firm earnings already priced into the market? Is all this optimistic market protection getting most of the people to purchase up right here at this doable market high?
The reply is, solely time will inform. No one is aware of for certain what the market goes to do however quick time period strikes could be predicted with comparatively excessive accuracy. Do not get me fallacious, I’m nonetheless bullish in the marketplace however with all this excellent news turning into public info it’s important to surprise what’s subsequent. I’m nonetheless lengthy the market however trimming my positions to lock in income and nonetheless keep within the recreation.
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