Hi, these are just ideas not recommendations, sometimes I trade my ideas, sometimes I don’t.
Always remember, yours is the responsibility for your trades,
Good luck,
Erick



Tuesday, January 30, 2018

Short Term SP500



The SP500 broke below a near perfect 45 degree channel, with a down gap. What can we expect, well, without any significant economic news I am leaning to think short term downturn for now.



In January the market went from 2696 to 2872, that’s a 6.5% gain in a month, really that is an untenable advance so something had to give. Am I buying this low?, I’d rather wait for a breakout.

Definitively I am not shorting since the market is still way above the ma(21), so I am kind of out of the market now. Only trading daily my beloved corn futures.

Volatility is on the rise, although some volatility is good for the upside, is a killer when the market starts going down.






GDX trading inside a nervous box, but still barely over ma(55). Look for the action in the next days, a close over 24.25 its positive if it doesn’t travel far above.



Shalom all

No comments:

Post a Comment

BlogCatalog

Investing Blogs - BlogCatalog Blog Directory

Followers

About Me

From the Dominican Republic - Swing Trader Speculator - Civil Engineer/Project Manager - sternloinaz@gmail.com