2 Days of Decline Erased
At 12.15 I got a buy signal on the s@p futures on the 15 min time frame. Once I got that buy signal the market never looked back. I have a buy signal in the daily charts on the SPY and looking for a buy back to try and push higher. The markets erased the last 2 days of declines. Still, if I was a long term investor I would looking to lighten up on any rally. I still think that the gap down to 16100 will get filled by early second quarter. Oil today was sharply lower — down 3 at one point before bouncing. Oil needs to hold 45.63 on the daily charts. Any close below that number will be very bearish for oil. Gold is negative on my daily charts and looking for gold to work off the oversold condition in the daily charts where I would look to go short.