Market Update For Week July 9, 2012

If we can get some weakness in the markets early on, there could be a chance for some streangth to come in for a pop, but need to see evidence that it can hold those gains. Not a lot of good set ups at this point.

Patience is key for oil this week as a buying opportunity is looming. Watching to get back long on UCO. Oil looks interesting early on. There seems to be a possibility that we get a pop early on, but more inclined to be a seller into that. Would like to get a better entry.

 

Being patient on SLV right now to see how this pullback will set up.

 

GLD needs a better set up for a long trade here. See more downside before a long swing trade.

 

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