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. Having failed to test down into the green zone, this trade failed to set up and is noow off our radar.
The S&P 500 index proxy (SPY) The bullish surge we forecast last week has come in right on schedule. We are in a transition point now, with a possible bearish pivot or bullish breakout both about at 50% odds. We remain on the sidelines and will be stuck there until we get clarity.
The Gold Proxy (NYSE:GLD) has broken out to new highs and looks overheated in the short term. Rather than the small correction that we were expecting last week, our measurements indicate that a larger correction is looming. We will take the opening price of the 5/11/16 session as our exit price for recording profits…
