Retracting Market

      Market is looking like its starting to retract to give back some of its recent gains. Big surprise this week was the durable good orders. The retraction of the global economy is to effecting the manufacturing industry. The Durable goods report showed some serious weakness in durable good orders and this information seemed to affect the market in a negative way. My USO position stopped out because of the petroleum report on Wednesday. The large increase in inventory is showing that the demand for oil is beginning to whither as the global and US economy contracts. Holding my current position in XLV and GLD. Watching QQQ waiting for it to hit the 200 day MA and rebound so i can enter on the long side. The Long term trend is still up so I am going to stick with long positions for now unless signs begin to show a momentum change in the market.