SPY  - For now the SPY has found support at 61.8% fib.

GLD was certainly the Canary... i loaded up on SPXU on the GLD spike.  Question now is will this be a trend and see another 800 pt drop ?  Matt/Steve - Down side target ?

yes

SPY/SH 1X, SSO/SDS 2X, UPRO/SPXU 3X

Is SPXU a 1x or 3x ?

here's a visual representation of what I described below. So some of these stocks are breaking out to new highs but their MACD's are lagging the move. There's potential for a divergence to setup unless the moves are strong enough to negate the divergence. Anyway something to watch for in the coming days

kwazee uvxy

yep that was a nice short. I don't know if it's looking to cover now with this move down, my Tradestation program is currently locked up wit this big sell off as Tradestation tends to get hung up and overwhelmed on these market melt down days. I need to reboot it sometime today.

RP - my observations on gold, especially on the stocks is that many looked like they would find support near their rising 20 day MA's, and of course the news helped boost and break many of those out.  Now on this latest move the ones making new highs will have a big MACD divergence setting up, which they did not have on the previous high. So that pullback over the last couple weeks could have been something like a wave 4 and this as a wave 5. One possibility could be many of these stocks make new highs but that end with MACD divergence sometime later. But for now the sector is clearly strong and looks higher in the short term especially as the general market sells off

I looked through the PM stocks, posted some detailed observations on the daily charts, sticky post at the top

Plus your old STRAP system was SHORT. Very well done

I sold everything Monday and set all week watching..this is creating opportunities will just set pick spots when all my indicators line up. Gold popped most likely will set new high here but without me. I am looking to short GLD after this move . Cycles are lining up for a top here as well as short interest most likely will increase. Pick your spots ....

Can you imagine what would have happened had Uncle Ronnie had Twitter back in the day?   

https://www.youtube.com/watch?v=bBow1ToJBFE

yeah I mean guys that 5 min SPX all it did was form a lower high and the MA ribbon pinched there, where it would likely fail. Good short there.

now the way this market has been moving if you took a piss you missed it. moves are fast and hard now.  And now it's Friday,  so you have the weekend nervousness etc

yes, but it's too unpredictable to be relied upon :-)

Is there an indicator for the Trump tweet?

$SPX - Chart Link - you can see how the MA ribbon pinched on that bounce for the lower high, was a good shorting area

Did the boys and girls in Jackson Hole come up with some clever ideas about raising rates???

Now what happened?  Trump tweeted.

Put/call ratio seems to be going back down

UUP - Chart Link

UUP - Chart Link