The DAX looks to have bottomed for a bit.
HEDJ… has rejected yesterday’s negative technical pattern.
This should go up and test 65.60 if it’s good. Closing over 66.20 should be considered a resumption of the trend.
Metals & Miners…Silver is leading by holding it’s 200 DMA @ 17.12.
17.70 is today’s resistance and upside momentum level.
GDXJ, FCX & BHP will be on the list of potential longs today into tomorrow with confirming price action in the Silver.
Currency traders..
USD/ZAR should be monitored for a potential trade. The South African Rand is rallying on the ESKOM privatization and should continue to strengthen if the metals rally is for real.
VIX…looks like I was at least a day early on this trade. I’m not crazy about the UVXY failing early at 9.50, last week’s close.This needs price action and a close over this level for me to stick with the trade.
CBI…pattern buy stops are @ 52.15 ( the monthly ORH #). Closes over 53.10 should lead to another 10% rally.
