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Saturday, April 2, 2016

1st: My Thoughts on Market Conditions


For March 28th

The SPY looks like it wants to go lower, but I think it’ll consolidate a little before making a decision. If it bounces, it’ll want to retest $205s. 

Oil looks weak, but it did bounce off of the support at $38.30s. It’ll probably consolidate a bit before heading back down.

Gold lower and I still think it’ll go lower. It’s looking for $1200 before it makes its next move. 

For April 1st

The SPY bounced at 201 and broke out. Now in $205 and positive territory. One more retest at $204s and it could be a green light from here. 

Oil is heading down and probably wants to go lower.

Gold bounced off of $1200 and made a lower high. I want it to retest $1200 and break it towards the downside. If not, then it may break out again and retest $1260s.

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