Direxion Daily Jr Gld Mnrs Bull 3X (NYSE:JNUG)
Weekly Moving Averages
The contract closed at 13.19. The market closing below the 50 day MA (23.51) is confirmation that the trend momentum is bearish. A close above the 50 MA would negate the weekly bearish short-term trend to neutral.
Weekly Momentum Indicator
With the market closing below The VC Weekly Price Momentum Indicator of 13.54 it confirms that the price momentum is bearish. A close above the VC Weekly, it would negate the bearish signal to neutral.
Weekly Price Indicator
Cover short on corrections at the 12.19 – 11.19 levels and go long on a weekly reversal stop. If long, use the 11.19 level as a Stop Close Only and Good Till Cancelled order. Look to take some profits on longs, as we reach the 14.54 – 15.89 levels during the week.
SPDR S&P 500 Low Volatility GBP (LONDON:USLV)
Weekly Moving Averages
The contract closed at 29.82. The market closing below the 50 day MA (48.77) is confirmation that the trend momentum is bearish. A close above the 50 MA would negate the weekly bearish short-term trend to neutral.
Weekly Momentum Indicator
With the market closing above The VC Weekly Price Momentum Indicator of 29.78 it confirms that the price momentum is bullish. A close below the VC Weekly, it would negate the bullish signal to neutral.
Weekly Price Indicator
Cover short on corrections at the 28.37 – 26.93 levels and go long on a weekly reversal stop. If long, use the 26.93 level as a Stop Close Only and Good Till Cancelled order. Look to take some profits on longs, as we reach the 31.20 – 32.59 levels during the week.
SPDR Gold Trust (ARCA:GLD)
Weekly Moving Averages
The contract closed at 117.06. The market closing below the 50 day MA (123.81) is confirmation that the trend momentum is bearish. A close above the 50 MA would negate the weekly bearish short-term trend to neutral.
Weekly Momentum Indicator
With the market closing below The VC Weekly Price Momentum Indicator of 117.08 it confirms that the price momentum is bearish. A close above the VC Weekly, it would negate the bearish signal to neutral.
Weekly Price Indicator
Cover short on corrections at the 116.18 – 115.29 levels and go long on a weekly reversal stop. If long, use the 115.29 level as a Stop Close Only and Good Till Cancelled order. Look to take some profits on longs, as we reach the 117.97 – 118.87 levels during the week.
Russell 2000
Weekly Moving Averages
The contract closed at 1.119. The market closing below the 50 day MA (1.145) is confirmation that the trend momentum is bearish. A close above the 50 MA would negate the weekly bearish short-term trend to neutral.
Weekly Momentum Indicator
With the market closing below The VC Weekly Price Momentum Indicator of 1.123 it confirms that the price momentum is bearish. A close above the VC Weekly, it would negate the bearish signal to neutral.
Weekly Price Indicator
Cover short on corrections at the 1.104 – 1.089 levels and go long on a weekly reversal stop. If long, use the 1.089 level as a Stop Close Only and Good Till Cancelled order. Look to take some profits on longs, as we reach the 1.138 – 1.157 levels during the week.
ProShares Ultra DJ-UBS Crude Oil (ARCA:UCO)
Weekly Moving Averages
The contract closed at 31.67. The market closing below the 50 day MA (33.50) is confirmation that the trend momentum is bearish. A close above the 50 MA would negate the weekly bearish short-term trend to neutral.
Weekly Momentum Indicator
With the market closing above The VC Weekly Price Momentum Indicator of 31.11 it confirms that the price momentum is bullish. A close below the VC Weekly, it would negate the bullish signal to neutral.
Weekly Price Indicator
Cover short on corrections at the 30.26 – 28.85 levels and go long on a weekly reversal stop. If long, use the 28.85 level as a Stop Close Only and Good Till Cancelled order. Look to take some profits on longs, as we reach the 32.52 – 33.37 levels during the week.