Weekly Chart Read

01132014 ESIt has been a bit since I posted. I was pretty close last month with saying we would see 1830. This is a new month and we are at some interesting areas. First few days of trading in January down. Many traders get spooked over this. We shall see. Today is pretty important to see where we close. If we close below 1812.50 on the /ES we will be into the last consolidation area. I feel this is going to happen. The overall buying volume is still strong so we will have to watch. The sectors are getting weaker and weaker. Usually it is just a few but we are seeing many trade lower. So I am thinking this is a move where big money wants to be out instead of moving to another sector. Another thought is that I am short for the first time in a long time a couple of trades… WLT, CLF and I am long the GDX. These are bearish plays. I still have a few longs with no risk. the only trade I am long full rick is CNX. ADI I was able to get risk out for a profitable trade. I took a loss on LLY. Still hitting 70% win rate.