Robots - May 21, 2012

There are no advised new entries in IWM or GDX.
Following Friday’s selloff, the trailing stop on IWM can be lowered to 77.27, area of the 5-day VWAP (76.86) and Weekly R1 (77.29). IWM closed just under the 200-day moving average (75.25) but is nearing a very strong support cluster made of Yearly pivot (73.55) and Semester pivot (73.27) on top of the new Weekly S1 (73.29). But the first resistance cluster is even stronger and we can expect some erratic bounce attempts in the coming hours. We shouldn’t change our strategy and just need to wait for the trailing stop to be hit or for a model signal change.

[ATTACH=CONFIG]14332[/ATTACH]

The GDX robot stays in cash. Quarterly S2 (41.95) is the important long term level of support/resistance to watch today.
Billy

[ATTACH=CONFIG]14331[/ATTACH]