After looking at the daily charts, looks like the miners will continue to move up next week. The CRB, XLE, XNG components should be accumulated this week, with a break up perhaps Thurs/Fri...would not be short Oil...XLE dip on Monday should be bought....BKX is way overbought, and ready to reverse, along with most other broad market sectors, except for defense/security. The VLE has made an all time high. I'll have to see how the daily correction plays out in the broad market....Weekly charts don't look bad....in fact they look pretty good IT...DIA, SPY, IBM, GE, MSFT....Caveat is the Trannies look overbought on the weekly...but the INTC weekly chart portends more up after a correction....USPIX looks nicely oversold on the daily, but is it worth trading it here?....all the gold to currency ratios look great on the daily....and on and on....anyways, just my opinion...just rambling on a rainy Saturday.
Bert |
