Commodities and shares have been on fireplace the previous two weeks and I believe it simply could also be time for issues to take a breather. Whereas I proceed to remain lengthy, taking some cash off the desk to lock in income is a protected play. Simply from a fast look on the charts we will inform the percentages are pointing to some sort of pause or pullback within the coming days. I determine any day now we might see some revenue taking.
Gold ETF Trading – GLD
The Gold ETF is considered one of my favourite trading autos. Utilizing easy development strains and looking out on the latest worth motion you’ll be able to see that the worth of gold is wanting prepared for a pullback. Shopping for at this degree is chasing and that typically means you purchase on the excessive and panic out on the low.
Silver ETF Trading – SLV
The Silver ETF appears to be in the identical boat as gold. I anticipate to see some sideways worth motion or a pullback.
Pure Gasoline ETF Trading – UNG
The Pure Gasoline ETF positive has given everybody a wild journey up to now 6 months. The bear market continues to be in place which might be seen on the day by day chart. To date this week the worth has damaged down and trading on the $11 assist degree. This fund might generate a purchase or promote sign with my trading model within the coming days so I’m ready for a transparent entry and exit level earlier than leaping on the fuel wagon best gold etf.
Crude Oil ETF Trading – USO
The Crude Oil ETF has damaged above its resistance development line this week however nonetheless struggling to maneuver above the August excessive. Quantity is declining whereas the worth rises which is a bearish indicator. USO appears prepared for some sort of a pullback because it digests this breakout earlier than moving greater.
Mid-Week GLD, SLV, UNG, USO ETF Trading Report
What does most people hear and take into consideration the inventory market?
From latest emails, native monetary information exhibits, family, buddies and so on… all I’m listening to is how robust the market is. Indexes are making new yearly highs and company earnings are higher than anticipated this quarter. Appears like all we have to do is purchase and life shall be nice!
Nicely for my part the market is the proper tool for misguiding and irritating most people. All my indicators are telling me we’d like extra of a correction earlier than rallying a lot greater. The market (sensible cash) typically anticipates good and dangerous information a number of weeks if not a month upfront. So the query is:
Are company earnings already priced into the market? Is all this constructive market protection getting most people to purchase up right here at this doable market prime?
The reply is, solely time will inform. Nobody is aware of for positive what the market goes to do however brief time period strikes might be predicted with comparatively excessive accuracy. Do not get me flawed, I’m nonetheless bullish in the marketplace however with all this excellent news changing into public info it’s a must to marvel what’s subsequent. I’m nonetheless lengthy the market however trimming my positions to lock in income and nonetheless keep within the game.