Text Book

Well although the markets did make another new high this week momentum has definately slowed and we are seeing a number of text book MACD divergent setups coming into this week including the Q's. GAIA, AMZN, CSCO, JCI, MU to name a few (thanks Dan). Dan has al;so remonded me that RIMM is due for a earning announcment this week. Staddle anyone. (The street is expecting godd earnings though)

OIL continues to make new highs and this is one I am not ignoring. GLD gapped down Friday and you should be short this now on Fridays open.

There were a number of commodities that moved well last week. I was long both GSG and DBB. I am starting to focus most of my trading around the commodity based ETF's. I think OIL has something to do with that.