so XAU is into the 99 area here. . and NUGT has dropped down into the 42.60 area ...
as i've talked about i've been thinking about an entry near the 42 area for a first position and then lower into the 41.- 41.5 ish area for a second position.
ill do a little oscillator checking to see the structure first .. and weigh the benefit vs risk of taking that long vs anything else short.
i dont do it often but
there may be a case to have a little of both.. long mines and short indexes in the coming days.
also as the DOW touches 16644 today .. here is the link a few days ago last FRIDAY sharing my work and idea
for a DOW target of 16653....this week ! !
post Jul 25 2014, 10:41 AM
Post #7
Member
Rut 5min signal was slow to advance thus a 10min signal was never seen instead the 5m signal died as price on the 10m chart reached resistance / transition area.
so now the RUT should test and ...make new lows on the day...if not then next week.
im looking for last weeks lows to
break with a possible target of 1125 or about 20 points lower from here.
( almost another 288 Dow points or 16653.00 area )
keep in mind this may be a little on the exuberant side of the decline as i mentioned days ago i was actually looking for the retest of the 1134 zone called earlier in the month.
so the 1125 if not seen possibly TODAY ..may not evolve until we see another
bounce next week off of 1134 first .. that fails.
meanwhile RUT remains weakest index of them all followed by the DOW the SPX and the NDX which is the order of preference for shorts.
if you're inclined to be bullish minded then youll want to look to the XAU and the EEM ..each has it leveraged vehicles.
next week i expect that the XAU will out perform the EEM to the bullish side...
so theres my 2 cents
trade smart bowrie.gif
Edited by Mr Dev, 31 July 2014 - 12:01 PM.
