That Was A Pullback?

On Friday the Dow Jones Industrial average pulled in 88
points! Today the markets closed up 155 points and at new highs even the
Nasdaq closed over 5000. That wasn’t the pullback I was looking for, even
with this rally I would look sell into if I was a long term investor. I feel that
there is way too much complacency, this is not a time to be a deer in the
headlights. I am still looking for a pullback on the daily charts then another
push up, however I feel we are on borrowed time. I stated in oil that I would
be a buyer below 49, I saw a nice buy divergence on the daily charts, oil got
down to 47.80. I stated that if oil traded above 49.30 I would look to sell any
long position taken below 49. Today oil traded at 51.04. Oil now needs to
show me it’s next hand. If oil breaks 46.75 on the daily charts then I think oil
can make new lows! Gold closed down 8. I was poking for gold to get to the
1225-1230 where I would look to short it on the daily charts, however, gold
got to 1223 before closing at 1206. I am staying away from gold until the
charts become a bit more clearer.

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