I believe we'll top out this week around 460, i do believe however earnings will be a blood bath to the downside. Their TV's suck so all their money income is heavily relied on by advertising. Which i think is having problems. Thoughts, comment anyone?
looking at C.O.T s for the DX Gold and the CAD, as well as the market structure for the DX, CXY and gold....higher probability we ll see the loonie move to the upside stopping at the demand zone before taking the fall which originally I had anticipated
DXY is at a weekly demand and resistance line, CXY is at a 2 year low just broke little below support, XAU looks like we ll have another push to the upside, however WTI is a little harder to read and the dollar has an inversely proportional relationship to oil lately.In the next few days maybe even tonite we ll see the start of a month long drop to the channel's...
looking at the structure, trader reports, CAD futures, DX and the fed hike...I think whats going to occur is a large spike to the upside followed by a dramatic drop in the USD...we ll see I do really love interest rates, but the USD/CAD is a nightmare....short, long short
as you can see if the dollar takes a dive on the interest rate next week, I speculate we ll have a big rally, before an even bigger tumble to the down side....so short, long then at the end of the year the BIG Short!!!!!!