Here is a look at the hourly Dow. I would not be surprised if we see a little strength based on the indicators in the next day or two. The primary trend is still down.
The daily chart of the Dow is also showing that we may have some strength based solely on the money flow (blue line). It has cycled to the bottom and looks to be starting a bottoming process. If the money flow moves back up ... then this should give the market some support over the next few days. The NYSE had a 81% down volume day with a cash outflow in the broader market of $760 million.
Its all going to come down to this ... the dollar.
Here is a possible trade ... double inverse silver. If you believe the dollar is headed north ... then you could buy this
ETF (
ZSL) and short silver for the rally on the dollar. I would look for an entry point from $7.25 to $8.25 and look to move out somewhere between $11 and $15 per share. Only a suggestion. Full disclosure ... I'm not in this one ... but thinking about it.
Here is a look at the hourly Dow. I would not be surprised if we see a little strength based on the indicators in the next day or two. The primary trend is still down.
The daily chart of the Dow is also showing that we may have some strength based solely on the money flow (blue line). It has cycled to the bottom and looks to be starting a bottoming process. If the money flow moves back up ... then this should give the market some support over the next few days. The NYSE had a 81% down volume day with a cash outflow in the broader market of $760 million.
Its all going to come down to this ... the dollar.
Here is a possible trade ... double inverse silver. If you believe the dollar is headed north ... then you could buy this ETF (ZSL) and short silver for the rally on the dollar. I would look for an entry point from $7.25 to $8.25 and look to move out somewhere between $11 and $15 per share. Only a suggestion. Full disclosure ... I'm not in this one ... but thinking about it.
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