Lessons from a Rocky Market

As we wind down a volatile week in the market, many seem eager to look for reasons for a rally instead of a further sell-off. I will discuss the broad market more in-depth over the weekend in my Weekend Video Strategy Session.

But as we zoom towards the bell on to close out the week, consider LNKD. I discussed on last Sunday's Strategy Session and throughout the week that LNKD's daily chart Bollinger Bands were "pinched," meaning price was too compressed. And we know periods of compression often lead to periods of explosion. 

Here, the directional move in LNKD looks to be now be lower. The risk is of further downside next week.

And junior gold miners are closing out the week above the key $21.40 level. Gold bugs still have their work cut out for them. But in the meantime they have short-term fought off another major breakdown.

Overall, I have been tactical, playing both sides of the tape and inter-market trades, with good success this year. Until we see a more broad-based march higher that will likely remain the case. 

Have a great weekend!