Light Crude: Counter trend pullback. GLD: Looking for GLD to test highs one last time before trend reversal. TLT: See bouncing from current levels. VIX: Should pullback, giving market support for a thrust higher. Probably test that 1440-1442 level first. AAPL: See likely to push higher. BIDU: See likely to push higher.
Tag Archives: $bidu
The recent rebound that we have rode up is showing indications that the strength could peter out and may not be able to hold up in the coming days. Not to say the markets are not going up further, but as it stands, it looks as if it wants to take a breather here and would be prudent to take some profits into strength in the coming days ahead and be patient till the next signal for another higher probability trade. Taking profits on $IYR and $IYT into strength.
$BIDU short possible set up.
$TLT Long could be in the cards soon.
Still looking to buy in mid June or on weakness.
Till we see how a backtest sets up on the indicators its hard to say if this is a buy. So far the path is being carved out. As it sits now, indicators are hinting for a bit of a backtest before any continuation upward. We are holding long SSO, TBT, POT, BIDU, AAPL, MA. Looking to add IYR with a successful backtest . The market doesn’t have to stay above the lows for a backtest to be successful. Our indicators need to set up appropriate divergences allowing for a higher probability trade. So far the markets are oversold and need to reset.