New Trade Orders - FXY and SPXU

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The S&P 500 is short-term overbought right now. There is also gap resistance overhead. I have placed the tentative pattern interpretation I have been working with the last couple weeks. That would make tomorrow as the ideal pattern completion point for what may be a very weak wave "c" of an upward flat pattern. This pattern would also imply very strong downside after the pattern completes. In this case I want to be short/inverse going into the weekend. So the trade is to buy SPXU with a limit of 33.22 for Friday.

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As a follow up to the recent post highlighting the bullish sentiment backdrop on the Yen, I am posting a trade on the FXY (Yen) ETF. I believe this would likely occur with stock market weakness, but the sentiment data stands on its own. So the order is to buy at a limit of 107.00 and there is a clear stop level at 104.50. As a side note there is a 2x bullish Yen ETF, YCL for those interested, but volume is very thin still, so I would stay away unless you are trading a small amount of shares.