Replies to post #57508 on SPDR S&P 500 (SPY)

[learningboutinv]

Foot, you're probably right, $USD is over-extended at the moment.

I am getting mixed signals so I personally am waiting and watching. The problem is $USD is up, but Gold, Oil, and other commodities are up too. Something is out of sync and only one side will win.

[learningboutinv]

$GOLD may hit 775 before bottoming which will coincide with the $USD topping. There's a bearish engulfing on $GOLD with today's candle print. But with any candlesticks, you need 2 to make a pattern and the 3rd for confirmation. So if tomorrow is another down day for Gold then we'll probably see 775 the next support level. I'm watching closely, as I will get in with the 2X ETN DGP - double gold contracts.

$USD is just chugging along and may tag 78.