As we have been predicting for sometime , we had a nice rally yesterday.We may have one more Down- Up move now and then the market will go down to new lows. Nasdaq will probably make a new high like Russell 2000 which has been quite strong lately.
Apple's joining DJI will not have much effect on DJI as its weighting is pretty small.
Oil will keep on going down after a brief rally yesterday. In the next 6 weeks we will make a near term low which can be as low as $33 which it reached in 2008 when there was no Shale oil production. Rest of the world is producing 30 Million barrels per day which is not going down according to Saudis. We used to produce 4.5 million barrels and now we produce 9 Million barrels per day. This is not going to come down much no matter how many rigs we shut down.
Volatility UVXY may have a minor rally today but it is going lower as the market takes some time by staying near the highs so that the insiders can distribute stocks near the highs.
Natural Gas went up in the last two days but it should make new lows.
Dollar index has been going up and too many people are bullish on it . The decline may have started yesterday. We cannot rule out another up move short term before the decline resumes.
Gold and Silver had a nice ally yesterday but it may or may not last.
DJI No Sell Signal yet. Will not exceed recent high
SPY Can go to recent high or may even exceed it
Ready to reach recent high and may exceed it
Will go down again
Will go down again with the market
ERY Will go up again
USO Oil ETF Will make new lows
GLD No Buy signal yet
GDX No Buy signal yet
NUGT No Buy signal
TLT can go to recent high
TMF 3X bullish long term bonds
SLV
USLV
IWM
TNA made a new high and going higher
UVXY made a new low and will go lower near term
SVXY
DJT
Apple's joining DJI will not have much effect on DJI as its weighting is pretty small.
Oil will keep on going down after a brief rally yesterday. In the next 6 weeks we will make a near term low which can be as low as $33 which it reached in 2008 when there was no Shale oil production. Rest of the world is producing 30 Million barrels per day which is not going down according to Saudis. We used to produce 4.5 million barrels and now we produce 9 Million barrels per day. This is not going to come down much no matter how many rigs we shut down.
Volatility UVXY may have a minor rally today but it is going lower as the market takes some time by staying near the highs so that the insiders can distribute stocks near the highs.
Natural Gas went up in the last two days but it should make new lows.
Dollar index has been going up and too many people are bullish on it . The decline may have started yesterday. We cannot rule out another up move short term before the decline resumes.
Gold and Silver had a nice ally yesterday but it may or may not last.
DJI No Sell Signal yet. Will not exceed recent high
Will go down again
TLT can go to recent high
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