Gold and the US Dollar.
While gold sits at the same level it’s bounced from twice before, the US dollar is testing resistance and setting up a aggressive US dollar short and Euro buy.
While gold sits at the same level it’s bounced from twice before, the US dollar is testing resistance and setting up a aggressive US dollar short and Euro buy.
With CSX breaking out, we’ve got to honor the strength in transports and the Dow. A few of these names made new highs today, and we’ve got another group that I think is next.
The Dow showed some excellent strength on Monday and I think we’re headed higher, but we do have some ranges we need to keep in mind. Outside of that, there are still several excellent names we can be buying if indexes need to catch their breath.
We all want to be confident in the direction that we are choosing to trade. Often that means seeing what’s just below the surface. In this case, using one simple tool to understand the bias of the intraday S&P.
The search for the next great winner often comes at the sacrifice of managing open trades. Here’s where we are with the current book.