Gold Miners - GDX - GDX is progressing nicely.. breaking the trendline today. All daily indicators giving buy signal. A close over this trendline tomorrow (Tuesday) would be a definite positive sign.
Silver - SLV - Silver continues it's march towards $22. SLV gapped up today with the increase of silver futures overnight.
Oil - USO - Oil is breaking down at this point. It has solidly broken down from a head and shoulders. I'm interested to watch and see if price action falls back into the previous trading channel.
Oil Inverse - SCO - One not wanting to short a market could go long an inverse ETF. In this case, SCO is breaking out from an inverse head and shoulders. I expect upside until price reaches overhead resistance at around $34.
Revolution Lighting - RVLT - RVLT is correcting from an overbought situation. Look to find support on previous support areas. TSI is very close to crossing over and one good down day would also signal the 3/10/20ema for a sell.
S&P - SPY - The S&P gave us a sign of indecision and possible trend change today with a spinning top. As mentioned previously, look for a short breather this week after anxious buying last week.. and then a further advance.
Long term view..
Have a great night!
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