The Gold Proxy (NYSE:GLD) has broken out to new highs and looks overheated in the short term. We would expect a new correction to form as the bulls rest take profits before re-booting and building up their strength for another rally attempt.
The S&P 500 index proxy (SPY) continues to trade within the bearish ivory zone. The grinding bullish power has finally been conquered and the bears have control of the market. We are forecasting that this bearish control is likely to be short lived, and that at least one more bullish surge will be seen…
Qualcomm (NASDAQ:QCOM) has whipsawed back into the green zone as the bulls and bears battle for supremacy. We will stick to our plan as the objectivity measured odds for success or failure have yet to shift against our position.
OIL is the ETF that follows the price of West Texas Intermediate Crude. After a failure to test the green zone last week, this market is offering second chance at a long opportunity. We are forecasting a push higher in prices that should take us up above the $6 area…
We have all heard the statistics put forth in articles, forums, and industry gatherings . 90% of traders fail… 80% fail after 6 months… Of those who make money, 70% are broke after 3 years.. What’s real?
