Set-ups for Monday March 5th

GLD, Streettracks Gold ETF, has shot through it's daily 50 EMA(purple line) on large volume, never a good sign. Price will probably go down to the uptrend line or daily 200 EMA(green line). I will be watching price around those levels to formulate a plan of action.

USO, United States Oil Fund ETF, is in a nice uptrend now. Any pullback to EMA support and uptrend line shown will be a long set-up.

DIA (Dow Diamonds ETF) has not made it down to it's daily 200 EMA(green line). I expect this level to be aggressively defended by the bulls. If it can stabilize and move higher it will cause players like me to cover my short position, which I've had since 2/26. An inverse head and shoulders pattern is forming on the 60 min. chart. A break of the neckline and cross of the 60 min. 20 EMA(red line) will trigger a long for me. The price level I'm looking to go long at is around 110.66.

EEM is the iShares MSCI Emerging Mkts Index and one of my favorite ETF's to trade. It's trying to stabilize at it's daily 200 EMA(green line) after it's violent descent. I am looking for a bounce to the resistance levels which I've shown with red lines.

Drilling down to the 60 min. chart you can see a triangle pattern forming. A break of the triangle could start a rally to the resistance levels shown on the daily chart, then I would be looking to go short. The entry to go long would be around 110.30-60.