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First +1000 tick reading up to the daily pivot. Golden. Err…should be Golden.

Blue horseshoe loves gold. GLD is up over a point today breaking the upper trend line of the symmetrical triangle pattern. Here’s a chart: However, just breaking the line is not good enough. We need to see a clear close above the line and then a nice break of the prior resistance levels. A break above $64.50 would confirm the breakout. The play would be to buy the first pullback to the upper trend line AFTER the breakout. That’s still …

I should’ve taken full profits at the +1000 TICK reading, but I decided to trail my stop instead. I could’ve gotten another 5 ticks out of it, but not a big deal. It could’ve gone either way. I’m stopped out here for +10 ticks. Can’t complain. Ehh…I won’t complain…

Looks like S3 was the first short play. I missed that one. Hopefully, we’ll make a move up to S2 that I can short into.

I’m gonna keep my stop at 12500. Next target is +20 ticks at 12530. Ultimately, I’m looking for a move up to S2, then I will short…if we get up there.

Negative tick extreme and the TRIN is starting to trend to the downside. Looking for 10 ticks and then possibly a move up to S2.

Don’t get duped into shorting the YM down here. I know it looks like a bearish consolidation pattern that’s about to break down at any time, but don’t forget that we’re already at the daily S3 and TICKs are actually making higher highs here. The best play right now would be to wait for a play back up to S2 to short into. No chance that I’d be shorting here…not today.

I think that the market bounces from here, so I’m out of this swing trade. If we get a nice bounce from here, then I’ll consider reshorting. My next play will be shorting the YM at S2. I may go long the YM soon for a bounce up to S2.

Did anybody NOT watch that Colts vs. Patriots game last night? Was that the sickest playoff game or what? Alright, maybe not the sickest, but definitely one of the best that I’ve ever seen. I’m glad to see that the Colts are headed to the Show. Peyton deserves his shot at a ring. So, what’s up with the markets? Well, we’re not bouncing anymore, that’s for sure. The Nasdaq hit it’s upper trend line, made a triple top and dropped …

We’re nearing S3. I’m gonna take 2 contracts off the table here and hold the last one with a trailing stop…

Alright…we got a very nice sharp drop…I’ll take it here for +42 tick. S3 is at 12524, so we may eventually hit that level before bouncing…