UUP

9:41 am PST. There was a UUP print at 26.21 for 199,406 shares. That is more than 1/4 of today’s volume so far. We are currently under that.

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TLT

8:58 am PST. Changing my mind again on TLT. LOL. Could be a short, but I am going to wait until after the Fed minutes get released at 2 pm EST.

If the TLT is a short, then holy, the indices are going to have so much further to run. Then my alternate SPY count comes into play.

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Gold, SPY

7:22 am PST. The prospect of rate hikes at the Fed’s next meeting is weighing heavily on the gold and mining sector. Gold and mining stocks, especially took a nose dive and are still struggling right now. The close is going to be very important today on the miners.

Interestingly, TLT is still up.

Goldman Sachs is deciding whether to make a new high or not, as well as SPY. VXX is not making new lows.

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Pre-market

5:11 am PST. The e-mini’s are slightly down this morning as I thought would occur today. I want to watch to see the quality and character of this correction to tell me what wave we are in. The VXX is saying that we are topping, but the dark pool has not shown its hand in selling. The market makers usually start selling en masse when there is going to be a correction.

Gold futures are up slightly this morning even though the dollar futures are up as well. I added onto my miners position.

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