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Are we there yet? (

I have been expecting some kind of correction to start in the second half of January, if the correction is in the cards, it should start very soon. ( Tomorrow or early this week will be a good time. If not, we should always respect Mr. Market.

$VIX Weekly: This is very close to long term support line, Jan 2010 and April 2010 correction started when VIX was close to this line. I will watch this line for further clue.


$INX Daily: I am expecting the resistance lines to hold, we might get a head fake but there is a high probability that these resistance lines (Green) should hold. We will know very soon.



GOLD: I wrote about GLD (Gold ETF), I was expecting it to test the trend line and head lower; it has played as per our expectations. The chart still looks bearish and RSI can support lower prices. GLL is an inverse leveraged gold ETF. (


Sliver: Silver is in line with gold, I published a SLV chart sometime ago; it is also playing as per the expectations. It has further bearish potential. ZSL is a leveraged inverse sliver ETF.(


I am publishing few short ideas, some of them are high risk shorts and some of them are high probability shorts.

EWO: This is an Austria ETF, looks like it is about to complete wave b or 2 and wave c or 3 is about to start, price is still in uptrend but can be shorted in anticipation with tight stop loss, will provide high risk/reward ratio.



TLCR: Another short idea, chart looks bearish to me and this is providing a good risk/reward ratio.


AMZN: Looks like it has formed a wedge, if indeed it is an ending diagonal than I am expecting one more price burst and than a reversal. There is nothing bearish about this chart but if the reversal occurs it will be swift. This is high risk but risk/reward ratio is good with proper stop loss.