Nearing Extension

Now that we have come near our targets, where now? Patiently waiting for the proper set up yields the best results. We are definitely in a strong upward biased and we still hold to longer term targets above here, but near term some hints are beginning to shed light. TLT may be our first clue, watch for this to break higher. Tomorrow is looking as if it will show its hand as divergences are showing up. GLD is looking to be extended and I’m watching this to break lower in the coming days. SPX thus could be under pressure very shortly.

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