JDST looks good… Buy signal this morning at 7.34.  Note circles on chart where we got trigger line crosses.  If my EW count is right my (i)=(v) target sits at 8.97.  EWO is about right for the indicators. Slow grinding day does not bode well in my view. The key to watch is EWO, when price reaches 8.15, and our key indicators – CCI, RSI, FastSTO, and SlowSTO.  If we get trigger line crosses on our indicators to the downside and EWO peak is below our last peak, then the upside potential is over….

0609_JDST_EOD

Now look at NUGT… we are very close to a turn.  I think this fact will limit the upside potential for JDST.  When we get a buy signal on NUGT… i.e., trigger line crosses on key indicators and especially on the SlowSTO, I will bail on my shorts. I will keep an eye on the GDX Weekly Chart, posted earlier, to see how close we are to a turn on that chart.  A positive turn on the Weekly GDX would signal a trend change for trading the swings on the 2HR Charts.

0609_NUGT_EOD

And, lastly, one last look at the Dollar chart… Note price divergence on EWO. This could mean the low is in but I would like to see one more higher peak with a lower price (but not necessary)… Trigger line crosses on all indicators then went mushy. This is telling me the uptrend move is not strong. We may drag out some more…. But when a buy signal is generated JDST should go up. However, as we saw in NUGT’s chart it’s getting ready to rumble… SPY looked positive at EOD… market should be going up…

0609_UUP_EOD