6/9/2014 5:47:10 AM
Good morning traders,
As we peruse our universe for opportunities as noted by extremes in price, internals or sentiment, here's what we see.
First we'll take a look at some stock market indicators:
Now switching to gold:
How about the action of traders in UNG?
And relatively speaking between UNG and USO:
Accordingly, as we set up this week, we see the stock market setting up into the expiration on the 20th and expect a top forming around that period. That gives us 2 weeks of stock market action where we should see further extremes setting up opportunities in gold and oil.