Category: ETF’s

XES – Oil and Gas equip [3/1 update]


The trend is down with the next target down of 19.56.
The trade pressures have turned up and the volume is bullish.

a close above the 25×5 Moving average should confirm a new move up.
first sell target is 29.78

stops at the recent lows.

[Update 3/1: increase stop to 25.30]

XES 3-1-15


[Update 3/12: Trade stopped out at 25.30 for a loss of 69 cents or, a loss of 2.6%]


next price objective is 91.28 then 102.60. buying pressures are extended.  price divergence here, 83.36 makes us wrong and reverses the trade.

SDS (double short S&P)

99.51 9:22 am

monthly –  extended up.

weekly – met upside targets then moved quickly down to the down target of 86.95.  now in coslidation setting up the next move.  conditions suggest that move will be down.

daily – bias long. in a pull back from the recent move down. trading in the channel between 87.88 and 103.63. a move above takes it to 115.58.  a move below takes it to 81.16.  pressures up, but price is not responding. 

short entry price 92.40. stop at the upside channel.

SSO (double S&P)

22.26 9.02 am

monthly –  have met down side targets. selling pressures hard down.

weekly – divergences at these lows. pressures up. entry price 25.57 stp at the lows.

daily – retracement bias long. previous entry price of 22.16 met the 1st objective of 26.92. next price objective 31.48. now in a pullback looking for a next long trade.   stp at the lows.

shorter cycle trade? while this can change during the day, a trade thru 24.03 will start a new upleg to some very short cycle targets 26.30/28.50/30.50.   may be a double repo setting up.

GLD (the gold ETF)

if there is worry about all this gov’t support creating tomorrow’s inflation, then gold is a fair measure.  i don’t think it will move too much till some evidence of more global economic stability;  can also watch the euro vs the dollar for that.  the dollar has been a safety trade away from other currencies.  if sentiment becomes less concerned then the dollar gets sold and the other currencies move up.  as the dollar declines gold will rise.  but it doesn’t matter what i think, the technicals are almost always right and well ahead of the fundamentals.

GLD at 80.60 sunday nite

weekly – has triggered a buy at 79.83 to 91.44.  the 64.56 target is still active.

daily –  next target 83.43.  a trade thru 75.95 will restart the down trade. pressures extended up, so a pull back can be expected.

Gold Nov 16,2008

the gold ETF, GLD, has triggered a sell signal to 64.70 on the daily.  That sell signal would be void upon taking out the swing high at 76.39.  the weekly pressures are very over sold, so this is risky trade.

short term – a trade below 72.48 would have a PO1 of 70.66.  A trade above 74.41 would initiate a long trade to 75.87 PO1.gld1