ETF update for Tuesday 3/20

SLV, ishares silver trust, is right at it's 20 EMA(red) and 50 EMA(purple) resistance. Notice also that price is right at the uptrend line line which is now acting as resistance. Looking to go short on a breakdown around 129.83.

FXI, china index ETF, has made it up to it's next to highest resistance level. The straight line resistance(red line) is where we are at now, the 50 EMA(purple) is the next resistance level. I will go short on a breakdown from here around 97.84.

All US and foreign index ETF's rallied Monday. Most are up to their first or second level resistance. I am not going long on this rally, volume has been light on the up days and heavy on the down days. My game plan is to let the market suck more longs in and see what happens when we hit the higher resistance levels. I am expecting the markets to make another leg down at that time, that's where the big money will be made.