As mentioned after the FOMC meeting 18th September on the pop , that a possible move down and short term high was in – markets been pulling back.

I went short after FOMC pop because we started entering one of the statistical most bearish weeks of the year.

And as markets dropped during the week I began taking profits on shorts from 1730 -> 1690s and began to load up on longs because I know believe we are closer to a short term rally than a top at the moment.

Dow Jones forming a possible bullish pattern and and suggest possible new all time highs underway. I will keep my stop on longs very tight though.

Gold/Silver I’m extremely bullish on and think that those metals can see a sharp rally higher in the coming weeks. Gold and silver miners looks bullish to , so guess something positive coming up for gold and silver.

Conclusion:

All in all – bears got the ball in past 1 week HOWEVER the decline is not impulsive but much more corrective – and that means that bulls are not done yet. If we had an impulsive move down ,, we could start a larger correction. I believe we are going to form 1 more high before we see a bigger correction.