I’m going to skip the market recap today. The big picture has not changed. The story is that dollar continues to drop and currency funds such as FXB and FXA are breaking out.
Shame on anyone that misses the breakout on IBB from this symmetrical triangle. This one is ripe. Could be a $12-15 move.
SEA is worth another try. SEA held trendline support and volume was very strong. I’m looking to go long again (already hold DRYS and NM as junk longs).
I added NPK long at the end of the day at $78.40. Stop set below $74.5 which was the low of yesterday’s breakout.
I finally got into UNG today. I set my stop just below $13.7.