Wednesday, June 19, 2013

Stock Market Update, Outlook and Forecast

Watching key levels here. Fed really blew this up. My plan is either to short equities with a long wonderwood on Friday or if we snap the 13 EMA on the daily. We are flirting with the 13 EMA on the daily. I am watching pivots here to see if they break. I am going to wait until Friday to act with any short term Wonderwood positions.

Two charts.  First, Gold is hitting a potential important trendline. Chart:

Second, my NZDUSD long position was stopped out at 7950 with the Fed. I have reentered per the chart below. This is consistent with the thesis, though I am still not sure it will work.

I will have a post on Friday.

Peace, Om,