STRANGE BREW

Here is the trade I mentioned the other day I had orders in for, the Swiss Franc. You can see this market is moving up nicely. I have to admit that I do not have a good overall read on the markets at the moment. There are not many things setup the way I require to trade. The Euro which in general trades in the same direction as this, appears to be setting up a short, so I have doubts as to how far this trade can go. I would have a stop under each days low for anyone who might be in this trade just in case we roll back over again.

Next, the SP 500. As you can see we have a mixed bag here. The one short term momentum oscillator shows a flat sideways trend, and the longer one shows up. I really like these to be in sync and they are not. When I see things like this I just don't force trades.

I do not have a good read on this as a result of this, but since the weekly trend by the way I measure it has turned down, I am looking for sell signals on bounces.

Gold is a market I have not covered much just because my setups have to been there for any trades yet. You can see on the chart below, there are some minor divergences developing but the trend is very strong up here. There is no reason to get too excited about shorting this until something more than this develops. I love to trade the metals due to the volatility in them, but there just have not been any really good setups in my world. As I stated before, I don't force trades. I know I can make a months worth of profits in a few days, so I wait ( not patiently ), for the right trades to present themselves.

Good luck trading today, sorry there is not more to talk about.