Long
Bulls Take Back Control
The Dow had a strong day and is threatening our trendline resistance.
Our short is closed out and we turn 180 degrees bullish. Another leg up is almost certain as the bulls assert control back.
Trading is about recognition that we are sometimes wrong and having the stomach to take the opposite stance.
The 15 month trendline was broken but looks more of a fakeout for sure.
Precious metals have bottomed again and look very attractive at these levels. The Dow rising will propel a silver buying frenzy.
So the bears will have to wait longer before this liquidity driven insanity breaks down proper.
This Dow rally could extend into September or October...just in time for the seasonal colds and flu's to commence.
Good trading!
Our short is closed out and we turn 180 degrees bullish. Another leg up is almost certain as the bulls assert control back.
Trading is about recognition that we are sometimes wrong and having the stomach to take the opposite stance.
The 15 month trendline was broken but looks more of a fakeout for sure.
Precious metals have bottomed again and look very attractive at these levels. The Dow rising will propel a silver buying frenzy.
So the bears will have to wait longer before this liquidity driven insanity breaks down proper.
This Dow rally could extend into September or October...just in time for the seasonal colds and flu's to commence.
Good trading!
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.