Well this week is the FED meeting and we should get a possible .25% or .50% rate cut. With that said I do expect an upward bias this week in the market although I hear Cramer saying the market is going to go down this week. I think the reversal candle of last week is in place and we should bounce. If we do bounce i would be looking at the same stocks mentioned last week with the addition of DE (John Deere) and MA (Mastercard) which i see having a $10 gain to the upside from the charts.
GOLD!!! Everyone seem to be a gold bull right now and I am going to go out on a limb here as usual and say Gold is very near a TOP. Gold has been been on a massive run and I personally thing it could pull back significantly.
This morning we are gapping down and i willing to buy at support levels 1315-1320 on the S&P and see if we get a bounce. If we do have a bounce this week we could test the 1400 level which would be a good bounce. I am nowhere a bull but a trader and I think we are in mode to bounce at these levels.
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