I have been expecting some kind of correction to start in the second half of January, if the correction is in the cards, it should start very soon. Tomorrow or early this week will be a good time. If not, we should always respect Mr. Market.
$VIX Weekly: This is very close to long term support line, Jan 2010 and April 2010 correction started when VIX was close to this line. I will watch this line for further clue.
$INX Daily: I am expecting the resistance lines to hold, we might get a head fake but there is a high probability that these resistance lines (Green) should hold. We will know very soon.
GOLD: I wrote about GLD (Gold ETF), I was expecting it to test the trend line and head lower; it has played as per our expectations. The chart still looks bearish and RSI can support lower prices. GLL is an inverse leveraged gold ETF.
Sliver: Silver is in line with gold, I published a SLV chart sometime ago; it is also playing as per the expectations. It has further bearish potential. ZSL is a leveraged inverse sliver ETF.
I am publishing few short ideas, some of them are high risk shorts and some of them are high probability shorts.
EWO: This is an Austria ETF, looks like it is about to complete wave b or 2 and wave c or 3 is about to start, price is still in uptrend but can be shorted in anticipation with tight stop loss, will provide high risk/reward ratio.
TLCR: Another short idea, chart looks bearish to me and this is providing a good risk/reward ratio.
AMZN: Looks like it has formed a wedge, if indeed it is an ending diagonal than I am expecting one more price burst and than a reversal. There is nothing bearish about this chart but if the reversal occurs it will be swift. This is high risk but risk/reward ratio is good with proper stop loss.
No comments:
Post a Comment