Hi everybody, today was a real choppy once again. I will have a weekend video up before Sunday night so we can decipher this weeks action. Have a great weekend!!
12:18 am
Guys I have been real busy lately with this new gig so I will not have a video up today as you can see. However, I did want to bring to your attention how the dollar and the markets are still trading inverse. Add this to your tool kit to get a good idea of when to go long or short. With that being said, today was a real choppy day and was very tricky. The market has been doing this for a while now and who knows where we will be next week or even tomorrow. I'm noticing some negative divergence on the 5min SPY on the chart below and a possible lower low that can hold and take us lower. The advance decline lines have not made a higher high at all so this could be a bounce for the suckers. They are shaking out the weak holders if your short. If they manage to take us up then so be it. Only thing driving this market higher is the energy markets, and I believe this whole energy move is another speculation rally. The same one that took oil all the way up to 150ish area. So lets see what happens and watch the oil markets. They have been taking us higher along with banks. Banks who knows what can happen to them, but oil breakdown or pullback could do some damage to the markets.
SPY 5min with UUP in background
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