What I am Looking At This Week....Jan 27, 19
Well another week has come to a close. Almost the end of January and towards the end of the month the markets do get a little volatile as positions are settled and readjusted by the larger players.
Once again the bears are into full hibernation in the stock indexes. Why these idiots go on record all the time telling of imminent sell offs and crashes is beyond me. Scare therapy for themselves is all I can think of. I mean it must make them feel good ignoring mistake after mistake.
As I had predicted a few weeks ago the indexes are indeed rallying and will continue to rally for at least the next week or two. Possibly a short sell off but nothing to worry about and in the interim any selling is an opportunity to buy.
I am still short a small position in oil as it indeed fell from my area where I marked on the chart but has again risen. When any market sells off or rallies it rarely rallies straight. It usually makes a small leg in the direction it is eventually going but not before it abruptly reverses and takes out the traders who entered too early. This is common practice and happens over and over again. You do want to be looking short in Oil but keep in mind it could stay in this range for quite some time before falling.
Gold should rally to the 1330 area or slightly beyond before once again falling back. There is nothing to tell me it is going to head much higher. The Dollar is the only thing that will allow gold to rise but it is taking its time falling and may move sideways for quite some time before it begins its corrective stage again.
I would look for the week to be fairly uneventful and my advice to you is to stay clear of the talking heads who couldn't predict a snow fall in a blizzard.
Somewhere between here and the 120.50 area the 10 year should make its next leg up (or down if you are on futures) and I am looking to get back in soon.
Once again the bears are into full hibernation in the stock indexes. Why these idiots go on record all the time telling of imminent sell offs and crashes is beyond me. Scare therapy for themselves is all I can think of. I mean it must make them feel good ignoring mistake after mistake.
As I had predicted a few weeks ago the indexes are indeed rallying and will continue to rally for at least the next week or two. Possibly a short sell off but nothing to worry about and in the interim any selling is an opportunity to buy.
I am still short a small position in oil as it indeed fell from my area where I marked on the chart but has again risen. When any market sells off or rallies it rarely rallies straight. It usually makes a small leg in the direction it is eventually going but not before it abruptly reverses and takes out the traders who entered too early. This is common practice and happens over and over again. You do want to be looking short in Oil but keep in mind it could stay in this range for quite some time before falling.
Gold should rally to the 1330 area or slightly beyond before once again falling back. There is nothing to tell me it is going to head much higher. The Dollar is the only thing that will allow gold to rise but it is taking its time falling and may move sideways for quite some time before it begins its corrective stage again.
I would look for the week to be fairly uneventful and my advice to you is to stay clear of the talking heads who couldn't predict a snow fall in a blizzard.
Somewhere between here and the 120.50 area the 10 year should make its next leg up (or down if you are on futures) and I am looking to get back in soon.
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