Market update

Market update based on /ES & SPX

 

VST - Sell (based on current hourly chart)

ST - Buy (as of close yesterday)

IT - Buy (as of close yesterday)

LT - Sell

VLT - Buy

 

 

VST = hourly; ST = 4 hrly; IT = Daily; LT = Weekly; VLT = Monthly

These are my definitions, timeframes depends on volatility

 

Previous Gold update here . We are still nicely following the same trend, so I will post updates when trends change.

 

p.s: The earnings season is upon us. I would avoid earnings plays on individual stocks. I am not an earnings technician, I don't have the stomach for those gyrations. This is a nice time to trade the indices though, very manageable! Good luck!

 



Gold update

Gold is beautifully following in the footsteps of the chart I posted few weeks back. If you wish to read my comparison chart again, click here . Right now where we stand, Gold should be an excellent buy. This chance to buy will last this week and the next. Prices will absolutely take off on the upside from the week later. If you buy Gold at these levels, have a stop 3% below. Just in case!

Market update

Previous market update here

VST turned Bearish (previous bullish from DJI 15572) as of close right now

ST remains bullish from DJI 15694

IT remains bearish from 15879

LT Bullish

Market update

Previous market update here

VST - Bullish

ST - Bullish

IT - Bearish (from DJI 15879)

LT - Bullish

According to me,

VST = hourly charts

ST = daily charts

IT = weekly charts

LT = Monthly charts

I trade the ST but provide recommendations for all time frames