7:01 am PST. HYG had a print at 87.58 554,700 shares block traded. I went long FAS and XIV. stopped out mining stocks. They are completely reversing as the dollar spiked higher, and gold is closing this morning’s gap, so bearish.

5:05 am PST. Gold might actually do an island gap reversal this morning if it gaps up and holds the gap open. That would be very bullish, imho, and indicative of a wave 2 completion.

4:43 am PST. The gold pattern looks good. This is what I was looking for before the close yesterday and we got it overnight. Yesterday was day three of the gold correction. The Dow still looks like it is in a bullish posture.

4:48 pm PST. Steel stocks have had an incredible run. They bottomed at the same time as the gold and silver mining stocks in January 2015, and have run higher regardless of the dollar. They take a long time to consolidate, but when they start moving up, they move up fast. I think the upside is probably limited for now, but longer term, I am going to keep these on my watch list.

1:14 pm PST. The Dow clocked in another 142.79 points. I am still bullish on the Dow. Lackluster close in gold. Looking for 40.80 GDXJ.

11:01 am PST. Copper has been an amazing trade since last October. Starting to get toppy short-term, but not quite there yet. Longer term bullish.

10:50 am PST. VXX in a death spiral. This has got to be the most forgiving short.

10:47 am PST. On its way to my $26.00 target. Probably needs 1-2 days consolidation before continuing higher.

9:25 am PST. I scalped a little off AMZN today. Buying it after the earnings miss turned out to be a good buy. I hope someone got that. It still has room to run on the upside.

8:01 am PST. Today is day three of the correction since the important 1243.20 overlap, which is completely normal. Interesting how Silver is performing a lot better than gold, as well as the miners GDX and GDXJ. If we can retrace the bulk of the gap down this morning, that is good.