SPY daily chart- Trading at the 50 day EMA.
SPY hourly chart- Looks like the SPY is testing the descending trend line that we broke out of last week. Also looks like the SPY could potentially be forming a cup and handle. Stay open minded for either direction.
GLD daily chart- Another strong day for GLD. Watch for a break to all time highs above $153.61.
UUP daily- The wedge we talked about last week broke to the upside. The pattern measures to roughly $22.50. If this plays out, it could have negative consequences for the market.
FXE daily- The wedge we talked about last week broke to the downside, this pattern measures to sub $134. Stay open-minded, FXE is currently trading at its 200 day EMA.
XLF daily -failed at the high end of its descending channel and 200 day MA. The indicators look to be rolling over. Watch for bullish divergence over the next few weeks and/or new lows.
GS weekly-if the $130 level can't hold, look out below.
BAC daily- Trading at 52-week lows.
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No position at this time. Position declarations are believed to be accurate at time of writing but may change at any time and without notice.