With the bullish reversal on Friday after Yellen’s conference, we could be setup for a nice rally for the week of March 6th. Both the USD and USD/JPY sold off on what one would think would be bullish (rate hike odds increased to almost 90%) for both currencies/ currency pair. As futures trading has opened for the week (3 pm PST), the moves may continue. Both indexes (/ES and /YM) are down, but have not violated any key support levels or moving averages just yet, however many believe they are due for a pull back.
Watch for swings in both the Metals and Miners. If the trend is to continue, I would like to see a bullish weekly candle similar to the one on 3/16/16. If not, best to step aside.
Watch the video below for a quick analysis of GDXJ and how you can use this information to calculate percentage gains for next week using for favorite stock!
Watch this video to see what will happen to JNUG if we have a solid week in the miners!