Think the S&P500 could possibly still test 950, so some more up moves are not out of the question, but I'm getting my shorts ready. Below is just my personal view, and with my trading I'm happy to take a one day move against me. You will likely take a different strategy if you are trading shorter time-frames. Had been expecting a one week rally, and I'm now getting ready for a low towards the end of July. With my favourite silver, it's worth noting the major broken silver trend-line was close to being re-tested last night, but perhaps another night on this.
Firstly US$
The major trend-line which I consider broken has been re-tested, could easily have another day or two though. I suspect the signficant market up last night was the major move, possibly just some minor move/s to come. In my view, coiled ready to move upward reasonably fast.
VIX
Looking like it's ready to curl back upward, nice little hammer/similar patterns.
BHP
Oldie but a goodie. Finally starting to get back into my desired shorting range which I put up a few days ago. May even take a short today depending on the ferious move that comes, looking mid $35's.
thinking thursday, page-3
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