Well lets see what happened after I wrote the last post, did the market act as an inflection point? Well lets just find out.
GLD: Continued to get to weaken as the spread approached .90 which should act as short term resistance.
OIH: Clear breach or resistance reflecting oil's current weakness.
UUP: After that diagnol trendline broke, all hell broke loose as the dollar gained strength and outperformed equities.
TLT: Price should have held that 1.150 but obviously didn't and that resulted in a breakdown. This is a tough one to predict, I have no clue where its headed.
It will be interesting to see how things develop from here.
GLD: Continued to get to weaken as the spread approached .90 which should act as short term resistance.
OIH: Clear breach or resistance reflecting oil's current weakness.
UUP: After that diagnol trendline broke, all hell broke loose as the dollar gained strength and outperformed equities.
TLT: Price should have held that 1.150 but obviously didn't and that resulted in a breakdown. This is a tough one to predict, I have no clue where its headed.
It will be interesting to see how things develop from here.
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