ETF CORNER

EEM : Emerging markets looking very bearish for 2013

GLD : Gold breaks out

Expect Gold to form a short term top soon (within the next two weeks) followed by a pullback before the take off.

TLT : Short term view

USO : Nothing but blue skies for Oil ?

USO is getting overbought here. I wouldn't short that sucker right away.

I'd rather wait to see it close to that yellow area / or a RSI of about 75 will do just fine.

The EUR/USD has been picking up some steam as i've pointed out in the last post... so watch for a EUR/USD near 1.26/1.27 soon.

The short side will become compelling pretty soon. (First week of september if you ask me).

Here is USO :

 

This picture below was taken at Tahiti Beach in Saint Tropez. Enjoy !