The market started the day on the bearish side but it bounced right off the 1965 level to close just above the Trend Average, which will possibly turn bullish if the market manages to trade above it tomorrow. There is the possibility of a Double Shoulder Inverted H&S, so if we see the market bounce off 1965 again, we chances are we will see a break out rally. A potentially profitable set up is to buy at 1966 with a stop at 1958, with the upside potential of 2005. I sold Gold today to lock in profits and I will either buy the market if we see support tested again or buy gold at the test of its 50 DMA.
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Short Term Trend = Bearish Trend being Challenged
Medium Term Trend = Bullish
Long Term Trend = Bullish