ETF Trading Research 7/10/2019

Overall was a profitable day with closed trades, but could have done better with a wider stop in metals and miners. I started with a wider stop and miners fell and we bought into it with JNUG and took it for some profit, but then I tightened stops and didn’t re-enter after our stop out once we broke 1411. Should have. That said, don’t expect much on this run higher. Miners should top out before gold possibly on the next move. Resistance is 1450 on gold. May or may not get there but from there a better short in JDST and DUST may appear. We hope to ride that down and then get sell signals on the shorts and load up longer term maybe on miners and metals, hopefully with gold around 1300. Big picture at least.

/ES has a chance to break 3007.50 tomorrow and if it does, 3030 should be a topping area to short from. Market is well overdue for a decent correction, but at least I got long and we profited some today from it. As much of an overall bear I am, something about this market keeps pushing it higher and we can’t ignore that. My nightly report below we need to pay attention to as much as possible and I did today, buying at the 2994 mark, but only taking a few scalps so far.

USD/JPY stopped supporting the market I notice, so market fell from the 3007.50 high. Watch it for clues.