Market Update

Intraday charts are not looking good... You already saw BIDU as a sort of market proxy, here are the averages...

SPY intraday

QQQ 2 min

IWM 2 min looking really nasty.

I'm almost considering a put here, maybe a weekly.

As far as FXP, it looks pretty darn good for a long, I've reiterated that at least once.

GLD and NUGT (both open longs- I'm using the 3x leveraged UGLD rather than GLD) don't look that exciting intraday, but they seem to be building even bigger bases, their 5 min charts look superb so I'm sticking with both positions, I'll keep an eye on intraday activity.

FXP 5 min

 GLD 5 min

NUGT/GDX 5 min