No Surprises

02192016

ES S&P 500

No real change from last weeks look. I think the Fed and Oil is trying to make moves to save this level. Personally I feel they will fail just not sire how long it will take. I am out of everything at present.

USD/CAD

Same as before, The are 1.37 is holding. I keep hoping for it to come below. When I say hope there is no technical reason for it to hold. Pretty simple. If the 1.37 does not hold then see how long it trades at the 1.34 area.

 

CL Oil

Interesting thing this week as Saudi Arabia, Iran and Russia talked about holding this record level of production. Let’s see who blinks. I say this area holds unless they turn down the spickets. You can see the levels that are in play now. See if it can form a bottom. Another note I received a signal to short today. I chose not to take it because I think they will manipulate. I also would like to see more room to move. These are excuses. We shall see if my feelings are warranted. It sure makes a trading system hard to measure when I do this kind of thing.

GC Gold

No changes really from last week. It did move above the level I discussed however came right back to hold 1240. I should be long this but missed it the day I received the signal. I missed the GDX also. Man I hate it when that happens.

Getting Caught Up

02102016

/ES S&P 500

Trying to find support at the 1800 area. I am pretty confident they are going to test this area again. It will then go to 1940 if it holds. I was short the DIA the first of December and made a really nice trade to the area it is trading now. I also shorted the DIA on 2/02/2016 which I am out of the second half now. Still short half on the IWM. I sure hope this area does not hold.

USD/CAD

If you are Canadian you hope this 1.37 area breaks down. We shall see. I think it will give to the next level of 1.35.

/CL Oil

Next level is 23.22. I am pretty sure it will hold and go into a range 32.50 to 23.22. It is making a nice structured move down.

/GC Gold

Pretty nice move. Should see a stall at 1235ish. See if it goes to 1235 and pulls back to 1190 area. Like to see it do that then make a strong run at the 1235 area. I received signals on the GLD and GDX but work got in the way. Missed it. Ugh!!