As we had told you in our premarket post on May 21 , The market has started its decline as the momentum for going up has gone. The volume on Friday was at the lowest level.
Whereas DJI & SPY were busy making new highs, DJT made a 6 month new low. Same thing happened in 2000 and 2007. So we will sty away from long positions and get into short positions. Russell 2000 and IWM have started going down again. Volatility UVXY will also go up as the market goes down.
Natural Gas has started going down again. Gold and silver are also consolidating in a small 4th step down which will be followed by a small 5th step up. However, if Gold goes below $1181, this may be the end of the rally. So be very careful here.
Energy stock should resume going down again and Dollar has completed its 4th step down and will go up to new highs in 5th step up which itself will be divided in 5 steps up.
SPY
DJI
DJT
IWM
NYA
TNA
UNG
DGAZ
ERX
ERY
VIX
UVXY
GLD
GDX
NUGT
SLV
USLV
Whereas DJI & SPY were busy making new highs, DJT made a 6 month new low. Same thing happened in 2000 and 2007. So we will sty away from long positions and get into short positions. Russell 2000 and IWM have started going down again. Volatility UVXY will also go up as the market goes down.
Natural Gas has started going down again. Gold and silver are also consolidating in a small 4th step down which will be followed by a small 5th step up. However, if Gold goes below $1181, this may be the end of the rally. So be very careful here.
Energy stock should resume going down again and Dollar has completed its 4th step down and will go up to new highs in 5th step up which itself will be divided in 5 steps up.
SPY
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