Thursday Nov 21, 2013
We have multi year highest bullish sentiment right now telling us the market can reverse any time. Some of the US markets have given SELL signals . Others may go up one more time . DJI, SPY and DJT have not given SELL signals yet. IWM, Russell 2000, QQQ and Nasdaq have given clear SELL signals , but they can go back to recent highs or even make slightly new highs.TZA has given a clear BUY signal, but it can go down on a short term basis before rising again. Russell 2000 can go to previous highs and so can other indices or make slightly new highs. So be cautious here . The markets can reverse any time
DJI
SPY
NASDAQ
NDX top 100 Nasdaq Stocks have given a SELL signal
$DJT ( Transportation Index)
QQQ has given SELL signal
We have multi year highest bullish sentiment right now telling us the market can reverse any time. Some of the US markets have given SELL signals . Others may go up one more time . DJI, SPY and DJT have not given SELL signals yet. IWM, Russell 2000, QQQ and Nasdaq have given clear SELL signals , but they can go back to recent highs or even make slightly new highs.TZA has given a clear BUY signal, but it can go down on a short term basis before rising again. Russell 2000 can go to previous highs and so can other indices or make slightly new highs. So be cautious here . The markets can reverse any time
DJI
GLD ( Gold ETF ) has given SELL signal for some time now . If it has to rally it has to do it now, otherwise it will go down to $1200 and then a BIG rally.
GDX (Gold Miners ETF)
This is very oversold and some of the mining companies selling below book values.
Rally possible. Many hedge funds have started buying GDX as downside risk is not that great but upside move can be huge.
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