Mid Week ETF Look – Jan 18, 2018
$SPY nice bounce of the 4ema, holding the top channel break, we are starting to go para. Short term trend intact, ww the otm calls next few weeks. Bullish overal
$USO testing the trend but held the range break, think we flag out and make next leg up. Lovely curl on monthly forming. Bullish imo
$XBI Little reject at that huge range break test 90-91. Expect a retest soon, trend still intact and 13ema support holding. Think we may retest uptrend short term but longer term we break out.
$GDX little pull back after the extension on the range break, res here at 24.75 on the monthly big spot to watch, I think we should rest the uptrend in the short as well before we try for that monthly 50ema.