Trading Log:I am neutral on this. $SPY,$EEM,$GDX
Last week’s consecutive down days have been bad for the bulls, particularly those that seem to think that the uptrend is in tact.
not sure about what u guys think but for me we might see some non direction or a rebound here. Normal 5 days down days have been followed by strong rebound. Alot of technicians are speaking about the head and shoulders pattern. This points to a sustain downtrend. However, people making some short term shorts might feel this is a good place to take profit.
Same for the $EEM.Lower highs is never a good sign here. I am just wondering if this could turn out to be a continuation pattern.
The gold mining stock index, like the general equities market is also in a down trend. the oversold stochastic reading could bring a sharp rebound. im not sure if i wanna trade that rebound.
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