I’m not going to post the broader index charts tonight because the action right now is the drop of the US Dollar.
I know my readers have been following the dollar and commodities. I hope all of you have been making money off the move.
The VIX bounced right off my 23.6% fib and I promptly added VXX long.
I mentioned earlier in the week that TLT was very responsive technically. Notice that TLT looks to be coiling up and might be in the early stages of a descending triangle pattern. Too early to tell, but higher interest rates could be on the way.
I was very active trading today. I posted most of them but here is the full recap:
Trimmed junk longs: IRE, TIE, HUN, MTL AND PCX
Trimmed: DXO, MOO, GOLD
Short Stop outs: IYT, NFLX
Long Stop out: LANC
Shorted auto retail: AZO, ORLY, AAP
Added: VXX, a little more FAZ; added JTX as a junk long.