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Comments: Exiting TLT short position and grabbing gains. Dollar correction in full bloom and gold bouncing accordingly…shorter term players may consider playing these moves…
SPY Daily [last 209.74]: Short, still; no change to view…Looking for at least 207 to possibly complete Wave (C) of A, before a bounce. 207 represents extension and retracement support; after that, looking for 202.

EEM Daily [last 36.40]: No change here. Still holding short…swing support at 35.85; looking for an extension to at least 34.75, i.e. Wave C/3; then maybe a correction, with next target to A2, as labeled, which comes in near 31.50.

TLT 4-hour View [last 131.58]: Exiting this position on the open. Going flat and waiting for recovery to get short again. Looking for a bounce back to 136-level in Wave B.

GLD Daily [last 123.64]: Still short. The gold bounce is underway. Scope for a lot higher…very near-term resistance is 124.88 (and key swing resistance as you can see; i.e. support becomes resistance). Counting this as Wave B recovery now; would not be surprised to see a move back to 128.58 (short term players may wish to consider) given the potential for a multi-week US dollar correction lower.

USO Daily [last 10.28]: Ultimately looking for a flat correction in Wave (c) to carry to the low at Wave (a), 9.23, or more with a Major Wave B target of 8.40…but we still think the low is in place at 7.67 (2/11/16).

UUP Daily [25.20]: Still long. But the US dollar correction is in full bloom! We are sitting long still, through what may be a multi-week correction. A possible deep correction to 25.01; critical support comes in at 24.83.