Evening folks! We ended up pretty much flat in the markets last week. OIL and commodities were the big winners of the week USO (OIL) , SLV (SILVER), GLD (GOLD) leading the way. Pretty much everything else I watch looked flat or tough to trade. This market for all its choppiness last couple weeks is still inching higher making highs. Intraday dips get bought and we often have full on reversals when the market goes red. Right now there are just no signs of strength from the bears as the price action still points to the upside. Obvisiously right now we are at levels where risk is pretty high as we are in a resistance zone and some bearish divergences are appearing. BUT the last year or so everytime we saw such signals we often just broke to the upside..such is the life of a liquidity/pomo market. For now day trading or short term swinging 1-2 days seems to be a safer bet
For our members we have a webinar on Tuesday! Dont forget to register. https://bullsonwallstreet.com/2012/02/tuesday-night-study-session/
if you missed out on your reading from last week
Characteristics of a Boom Boom Stock
How to Turn Sugar Into Cash ($ipsu)
Here is todays video:
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