Long Term Investors, I Would Lighten Up
Daily charts are way over bought the market was heading in the right direction early on then reversed when the talk of Greece getting more time and more money. I am looking for a pullback on the daily charts for a buy entry. If I was a long term investor I would be looking to lighten up on this rally even if we get the pullback then push higher. I see 3 gaps in the market below so to sit here like a deer in headlights is the wrong approach. Gold broke below 1200 I have been negative gold since my daily sell signal. Waiting for better patterns on gold where I would look to short gold. Oil is in a range I saw a huge over bought reading on some oil stocks CVX SLB OXY and they pulled in nicely. Oil right now is anyone’s guess oil needs to hold above the 46.70 number or else I get a daily sell signal. Recapping; Hoping that the market pulls back in the n set week for a set up on the daily charts. Have a great weekend!