We had great price action after a miserable down week the prior week. I entered into SSO on March 4 and I bought more on March 10 as the volume retreated on the 9th and strength coming in.

This is the SPY on a weekly which shows nice price and volume last week. I do expect a pull back and hope that it’s on lighter volume.

This is the daily of the SPY which looks like it will pull to $72-74 then buy this for a bounce up to 82-85.

I am long BGU, QLD,  UYG, SSO and think the market has temporarily bottomed test the lows of November 21. Dow, NASDAQ and S&P 50 are moving higher with strong volume. If we can lose inside the range of Friday than we are looking good. We also see gold pulling back which is a normal correction since the GLD has gone almost straight up from $78 to $98. GLD should pull back to between $80 -85 where I would buy again.

Still holding onto AKAM which could not break down below $17, thats a good sign.

We are not fully oversold but I stepped into the market and bought SSO (2x SPY) going long the SPY. We are at confluence area and volume dried up hitting the November 24 strong up day. I also like the DXO for a small trade as oil is oversold.

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.

I think we have hit the bottom this year. Today with the MASSIVE down ticks the US index futures and Asia down almost 10% across the volume was still lighter coming down. Look at the numbers below from Yahoo Finance. This holds well for the bulls out there. I am long QLD, SSO, DIG, DGP and short on UUP.

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).