The major indexes climbed up to election and sold on the news after Obama won. Then we sold off Wednesday and Thursday on strong volume which I did not like that much even though I profited from it with SDS. I went long again on Friday but the overall volume was not strong enough for me. This makes it difficult to know which way we are heading this week but I still remain bullish. As of this writing the futures are all positive. China just pumped $568 billion into their market today and the Nikkei and Hang Seng are up over +5%.

I will enter into TAN a solar ETF on Monday near this pullback at $10.70. It wants to run up to $15 for a nice profit.

I also like 99 Cents Store (NDN) as it pulled back on lighter volume at $11 support. Below is a weekly 2 year chart showing the support and I think it will run up to $16. Put stops below 10.50.

The market lost 10% in only 2 days!!! But wait there is more…the downside volume to light.

Check out the chart of the SPY. I circled the positive high volume days. As you can see today was just people taking profits from last weeks run up. The selling volume is much lighter and the price touched $90 today which is support. I bought SDS 2 days ago at the turn sold them today at $88…a bit too early for an +10% profit.

The SPY, DIA, IWM and QQQQ all reached the high volume high support today so I bought SSO, QLD, UWM, and DDM and TGB. Let see if I’m right and get a turn back up.

I suspect that this week will be an up week. We have hit temporary lows with massive short covering and margin calls galore. We are extremely oversold here and time for a bounce up.

Look at the SPY below which is a 1 year weekly chart. Last week we went to test the low but did no break it on lighter volume. We closed above the open of the week which is bullish. I think were going to up to $105 on the SPY. I am long the SSO currently

Below is a 1 year weekly chart of the GLD (gold ETF that is 10% of the spot price of gold). Last week went went lower to test 9/15 lows, went down on lighter volume (which mean less sellers) and closed above the open. This is bullish which is why I am bullish on gold and buying more of the DGP (Ultralong gold ETF)

I am also long on UWM, DDM, SSO, MOS, DGP, QLD, UYG, UYM and now DIG (I think oil is heading up again).