Backing and Filling in Days Ahead
Once I got a buy signal on the s@ps the market pushed higher then came down to the 2070 level. That pull back was a great buying opportunity, since that push down the s&ps pushed up to above the 2114 level. I see the market in the next few days backing and filing make higher lows. I see the market going between the 18100-18500 .if I was a long term investor I would be looking to go into cash. Oil stocks are showing a lot of weakness here with oils near a high in the last few months. Stocks like PVA and SN are not following oil which moved from the mid-42 to mid-59 range. I see a ton of overhead resistance on the weekly charts and I think oil should start a move down soon. I am very bullish on gold .today gold was up 13 closing at 1187.50. I think gold will stay above the 1140 area and have another push up above the 1200 very soon.