JASO on the move

Nice bottoming candle, a pullback, and a Gap-n-Go. Targets are $8.30 and $8.50

The market needs a breather here, I wouldn't be surprised to see a small red day tomorrow.

• The financial sector looks weak
• I am still short GLD
• The dollar looks like it can bounce from here
• Oil is NEARING good resistance
• The natural gas ETF (UNG) is really beginning to take off. Whether or not we've seen THE bottom, we'll have to wait and see (I think the first week of March is the bottom). I'd wait for a pullback before jumping into it. Demand for natural gas is way up after the nuclear problem that Japan is facing. I will do a separate post on natural gas some other time.

Good Luck All!

Markets are bullish

Looks like the Spiders will be headed to $132.40 and there is also resistance on DIA $122.49

All market targets have been met---Huge day coming!

When the markets dumped on the news from Japan, I said the markets were in panic mode, look for a bounce, and hold long.

That bounce came and my targets have been met (SPY $130.30, DOW 12,120)

• Either Thursday or Friday will be critical for the market.
• We either get a huge dump or a strong gap up above the 20 and 50-daily moving averages on SPY
• I'm leaning slightly/cautiously towards a strong dump
• Watch the financial sector tomorrow.
• The rest of the week is pretty much a coin flip the direction of the market will reveal itself soon.
  

Not much happening in the markets today. Except XING is finally making a move, and CHGS is up 49%

• I'm still looking for a bounce, a retrace to $130.30 on the Spiders by tomorrow, I'm guessing.
• I still have a slight bearish bias in the medium-term.
• I hold SCCO, XING, VALE, short gold
  

..

• Solid up day today. I think we have a little more upside coming. We could stall around $130.50 on the SPY or around 12,120 on the DOW. Whether we stall and start to make new-highs or make new-lows still can't be determined at this point.
• Gold looks weak. I'm turning bearish with targets at $132 and $130 on the GLD. Perhaps a foolish call, but I am short...
• USO looks like it's headed for double-top
  

• I will not be trading tomorrow, but look for a late day dump tomorrow as traders may not look to hold over the weekend due to "day of rage" part 2 on March 20.
• I still think the markets will bounce in the very near-term
  
• I am still bullish on XING, if it closes below $1.75 all bets are off.