The day-of-the-tails seems like  a good title for this post, as I see a lot of tails on most of the index.

- I see tail in all the 3 major index (SPY, QQQQ, Dow)
- Tail in Crude Oil
- Tail in Gold
- Tail in Volatility Index (VIX)

And it's not the ordinary tail, it's the type which is extremely long.

 

 

The market has been in a near term bearish trend.

The 22MA is threatening to crossing below the 50MA soon.

When that happens, and stock price pull back to it's 22MA, that will be a nice timing to test the market with some new shorting position.

 

 

USD met it's price target last week.

The estimated move from Dec low to Dec high, which was about (78-74.5) 3.5 points, was what exactly the market technicians have been looking at, which was the breakout from the bull flag from 76.5 to 80.

The question now is, will it continue to move higher?

 

 

GOLD also looks like it has done its A-B-C pullback.

Is this pullback done?

Well, it might give a bounce right away, seeing that the long tail hammer pattern it's forming right at the 50% Fibonnaci.

Or it might further drop to the 1025 level, which seems to me to be a more major support, before spring upwards again.

 

 

 

Crude oil breaks below it's major support trend line.

Looks to me like it's gonna be pretty damaging to the technical site if this break down is confirmed.

We'll need to see how things turn out further next week for the break down confirmation.

 

 

 

 

 

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