dead cat on uup? with the continued strength in tlt...would be government be supporting the dollar?
I think for the moment, gld and uso should be invested cautiously or non at all. Both the 200 & 50dma are declining...USO is the weaker of the two, its 10, 20ma are still in continued downtrend with alot of white space between them, signaling that the bias is still on the down side...only when 10, 20, and 50 dma start to flatten out would signal that the liquidation has slowed and accumulation has started. Gold is still in confirmed long term weekly downtrend. I'd want to see a higher high from here and waiting for at least the 50dma flatten out...as of now, the volatility in gold is hard to predict. with the 50dma still in sliding position, the bias is still on the sellers and any profits in long positions should be guarded. Gold is just too hard to trade now..as it is such a gamble in relation to the US dollar which i believe is being manipulated higher. That being said, i'd watch the TLT start to top out in combination to other signals in gold to enter positions.
Any trade should purely for very short term spikes.
