Sunday, October 21, 2012

The week ahead-Still in the channel

Please read my post from last week, it is playing out perfectly.  We are still in the channel on SPY, and we started our sharp move down.  I can see that continue until the FED meeting but expect a reversal at any moment.  DO NOT PRESS SHORTS HERE.

Gold and silver are still being guided by the robots to the next fib levels down within a tight channel. Buy the breakout of the channel.  The miners look ready to rumble, and that is an area I will invest in next week.  Our good friend BOIL is doing its thing and it looks like the next move higher is beginning.  Oil is still an area that is confusing my signals and I am still staying away.  Enjoy the charts.

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