Oversold Bounce Coming
Markets are extremely oversold here on the daily charts. I am looking for 1 push up and that move should make a lower high AAPL looks great on the weekly chart and I think if AAPL pulls into the 11750 to 12150 area I would be a buyer .oil today had a huge move up. Oil is up close to 10 dollars in 7 trading days after making a new low at 42.03 . I am looking for a pullback in oil on the daily charts where I would look to get long oil for a trade. Gold rallied 78 dollars off the low I knew gold was a buy since the price of gold was way to far from my 10 bar moving average on the daily charts .I was looking for a move in gold to the 1185-1190 area and gold pushed up to 1219. Gold pushed up because last Wednesday the federal reserve took out a key word in their minutes that traders referred to as the federal reserve will not raise interest rates .I have stated that the federal reserve will not raise interest rates this year , there are countries that have negative rates so the odds are great that they will not raise interest rates in 2015.