ProShares Ultra Silver ETF (AGQ)
The ETF contract closed at 43.42. The market closing below the 50, 200 MA is confirmation the trend momentum is bearish. With the market closing below our VC Weekly Price Momentum Indicator of 45.54, it confirms the price momentum is bearish. Look to take some profits, if long, as we reach the 44.41 and 45.39 levels during the week. Buy corrections at the 45.56 to 41.69 levels to cover shorts and go long on a daily reversal stop. If long use the 41.69 level as a SCO/GTC (Stop Close Only and Good Till Cancelled order).
iShares Silver Trust (SLV)
The ETF contract closed at 29.10. The market closing above the 200 MA is confirmation the trend momentum remains bullish. With the market closing below our VC Weekly Price Momentum Indicator of 29.15, it confirms the price momentum is bearish. Look to take some profits, if long, as we reach the 29.45 and 29.73 levels during the week. Buy corrections at the 28.81 to 28.51 levels to cover shorts and go long on a daily reversal stop. If long use the 28.51 level as a SCO/GTC (Stop Close Only and Good Till Cancelled order).
Market Vectors Gold Miners ETF (GDX)
The ETF contract closed at 44.93. The market closing below the 50, 200 MA is confirmation the trend momentum is bearish. With the market closing below our VC Weekly Price Momentum Indicator of 45, it confirms the price momentum is bearish. Look to take some profits, if long, as we reach the 45.83 and 46.72 levels during the week week. Buy corrections at the 44.11 to 43.28 levels to cover shorts and go long on a daily reversal stop. If long use the 43.28 level as a SCO/GTC (Stop Close Only and Good Till Cancelled order).
SPDR Gold Shares (GLD)
The ETF contract closed at 160.54. The market closing below the 50 MA is confirmation trend momentum is bearish. With the market closing below our VC Weekly Price Momentum Indicator of 160.69, it confirms the price momentum is bearish. Look to take some profits, if long, as we reach the 161.34 and 162.13 levels during the week. Buy corrections at the 159.90 to 159.25 levels to cover shorts and go long on a daily reversal stop. If long use the 159.25 level as a SCO/GTC (Stop Close Only and Good Till Cancelled order).
SPDR S&P 500 (SPY)
The ETF contract closed at 140.33. The market closing above the 50 and 200 MA is confirmation the trend momentum is bullish. With the market closing below our VC Weekly Price Momentum Indicator of 142.97, it confirms the price momentum is bearish. Look to take some profits, if long, as we reach the 142.07 and 143.81 levels during the week. Buy corrections at the 139.23 to 138.13 levels to cover shorts and go long on a daily reversal stop. If long use the 138.13 level as a SCO/GTC (Stop Close Only and Good Till Cancelled order).