Rick’s View 1-30-2012

 

Good Morning

January 30, 2012

 

SPY-

Thursday’s dark Cloud Cover is still lingering in spite of Friday’s positive close. There is still a very good chance of seeing follow  through on Thursday’s  Bearish Dark Cloud Cover.  Our  trend  is even more important today as price action is teetering on the T-Line.

 

IWM

To stay in out Bullish Trend price needs to close above 78.00 ish .

 

DX- Dollar

The Dollar is in a short term bearish trading below the T-Line….but this is were we start looking for reversals.

 

XLF-

Price Action is flirting with the T-Line but still Bullish as of Friday, a close below Friday’s low could spell trouble.

 

DHT

DRE

KERX

MERC

MIPS

SGMO

SIGA

VIT

WFR

ZOLT

 

 

A few Inverse ETF’s we will be watching

TVIX

SPXU

FAZ

SMN

ERY

TZA

 

We will be watching the inverse ETF’s for a possible entry!

 

 

A profit trader is someone who plans, analyzes, and interprets and executes trades to ensure buying on support wholesale and selling into strength profits to achieve their daily, weekly, monthly and yearly financial and personal goals/objectives

 

If the market starts to show weakness the inverse ETF’s offer a terrific way to profit.

 

Investing and Trading involve significant financial risk and is not suitable for everyone. No communication or chat session should be considered as financial or trading advice. All information is intended for educational purposes only.