Stocks will need a rest for a few days. Our models expect weakness Friday into Monday with an ultimate top occurring in mid-May with a major low June 30th. The 200 day moving average is a tough level to break through on the first try.
Profits were taken on BLMN today: 52% in 10 short trading days.
As forecasted the FOMC meeting triggered our reversal in Gold. We expect strength into next week with 1750-1800 as minimum expectations.
Gold miners and NUGT will follow. Our NUGT trade is up approximately 10% with a lot more upside expected.
BTC surprised us with a stronger move than expected through the 200 daily moving average. 9,400-10,000 are targets into next week.
Nothing can predict Oil's erratic behavior as of late, so we continue to avoid Crude . It's time will come.