AGQ
The ProShares Ultra Silver ETF (AGQ) contract closed at 43.14. The market closing below the 50, 200 MA is confirmation the trend momentum is bearish. With the market closing below the VC Weekly Price Momentum Indicator of 45.24, it confirms the price momentum is bearish. Look to take some profits, if long, as we reach the 48.44 and 53.74 levels during the week. Buy corrections at the 39.94 to 36.74 levels to cover shorts and go long on a daily reversal stop. If long use the 36.74 level as a SCO/GTC (Stop Close Only and Good Till Cancelled order).
SLV
The iShares Silver Trust ETF (SLV) contract closed at 29. The market closing above the 200 MA is confirmation the trend momentum remains bullish. With the market closing below the VC Weekly Price Momentum Indicator of 29.67, it confirms the price momentum is bearish. Look to take some profits, if long, as we reach the 30.69 and 32.80 levels during the week. Buy corrections at the 27.98 to 26.96 levels to cover shorts and go long on a daily reversal stop. If long use the 26.96 level as a SCO/GTC (Stop Close Only and Good Till Cancelled order).
GDX
The Market Vectors Gold Miners ETF (GDX) contract closed at 45.18. The market closing below the 50, 200 MA is confirmation the trend momentum is bearish. With the market closing below the VC Weekly Price Momentum Indicator of 45.35, it confirms the price momentum is bearish. Look to take some profits, if long, as we reach the 46.53 to 47.88 levels during the week week. Buy corrections at the 43.99 to 42.81 levels to cover shorts and go long on a daily reversal stop. If long use the 42.81 level as a SCO/GTC (Stop Close Only and Good Till Cancelled order).
GLD
The SPDR Gold Shares ETF (GLD) contract closed at 160.33. The market closing above the 200 MA is confirmation trend momentum remains bullish. With the market closing below the VC Weekly Price Momentum Indicator of 161.11, it confirms the price momentum is bearish. Look to take some profits, if long, as we reach the 163.84 to 167.43 levels during the week. Buy corrections at the 157.61 to 154.88 levels to cover shorts and go long on a daily reversal stop. If long use the 154.88 level as a SCO/GTC (Stop Close Only and Good Till Cancelled order).
SPY
The SPDR S&P 500 ETF (SPY) contract closed at 142.79. The market closing above the 50 and 200 MA is confirmation the trend momentum is bullish. With the market closing below the VC Weekly Price Momentum Indicator of 142.92, it confirms the price momentum is bearish. Look to take some profits, if long, as we reach the 144.42 to 146.03 levels during the week. Buy corrections at the 141.30 to 139.80 levels to cover shorts and go long on a daily reversal stop. If long use the 139.80 level as a SCO/GTC (Stop Close Only and Good Till Cancelled order).