Market update

Previous update here .

 

 

VST, ST - Bullish, hold

IT - Turned bullish as of Thursday's close (stop 3% below Thursday's close)

LT - Bearish

VLT - Bullish

 

We traded the gyrating ups and downs of the market swings very well. I, infact tweeted live all my moves. I expect the market to continue to be volatile, I expect much downside or at best choppy. But, since I will only take my signals and not let my bias affect my trading, I will disregard the "general talk". I will update any changes in the market directions. GLT All!

 

Gold update

Last buy was at 1285$, check this update for previous comparison . We have been tracking that chart for several weeks now. I have had a Intermediate target of ~ 1550$ based on that chart and my signals. This week we had a turn on our IT and LT frames. I have a sell signal on daily and weekly time frames right now on Gold from a buy previously.

 

 

The best case for a bull right now is that we could be a in a chop. Unfortunately, I will take my signals. My stop is ~ $1,350. GDX is in a much worse position, BTW, obviously due to the recently sell off in the equities. 

 

All timesframes - Sell

 

 



Market update

Previous update here .

VST - turned bearish this hour

ST - Still bullish, losing steam

IT - Bearish

LT - Bearish

VLT - Bullish

 

GDX, GLD, /GC

 

VST, ST - Bearish

IT - Bullish but on edge

LT - Bullish (next update will be at end of week, last LT buy was at 1285 - /GC with a 3% stop)

VLT - Bearish

 

Market update

ST & VST & Very Long term - Bullish

Rest of the time frames  - Bearish