Markets continue to follow their “path of least resistance” and those who short (or buy $GLD) against the primary trend experienced another punishing week. The trend is your friend unless you fight it. There is a danger with a market which appears to be bulletproof and that is complacency. Complacency sets in when people believe every pullback will recover quickly until one day the pullback becomes a reversal. To protect against becoming complacent and even cocky, you need to listen objectively to the market and let off the gas a bit when trends appear vulnerable and then position yourself in strong stocks when the trend resumes. It is up to you to know what timeframe you are on and to provide the discipline, that is the toughest ingredient to consistent market success. The video below takes a look at trends and important levels in $SPY $QQQ $IWM $XLF $SMH $GLD $TLT $AAPL $GOOG Have a good weekend!

~Brian

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