It's pretty simple this week: we're still stuck in the same box that I had drawn last week... That is, we're stuck there until we breakout of it, one way or another! I'm thinking we're likely to breakout to the upside, because it seems like all the moving averages are lining up underneath price and starting to turn up. The only thing stopping us it the 200d, so we really have to get above the 200d and hold it.
There is a move coming in GLD and SLV, so keep an eye on those two this week. I feel like it will be a significant move, and it will pay to be on the right side of the break for a swing... I'll be watching those closely: my intuition is telling me there will be a break down. The only thing not supporting this hypothesis, is that the indices look poised to break out, and recently the correlation of the market vs gold has been positive. This is the opposite of what happened in Aug, where the correlation was negative (ie when the market went lower, gold went up). So if the correlation stays positive, then gold and the market should breakout in the same direction... We'll have to see what happens.
Other than that, I'm seeing a lot of great setups, and I went long a bunch of stuff on friday, in small sizes... I'm long some ZINC, GTIV, COOL, TQNT, GMXR, SANM, I think, and still short INHX, MBI, NLST. Here's a few charts that look good on the long side: AKS, GTIV, STP, TQNT, MERC, BZH, BZ, OCZ, CTCT, HPQ, UCTT, HCBK, CVGI, NTSP
And here's a few that look good on the short side: CF, TIF, WYNN, ZAGG