market update

Not much going on in the market for the week. Stocks prices still retracting from previous rally. Set a position for USO with a stop price of 28.50. Given the nature of the trend expecting a bounce off the lower bound channel line. GLD had a strong response as it bounced dramatically off the 200 day MA. Due to previous GLD trade being stopped out from unexpected price drop to test the pattern validity, I will be looking for a new entry point provided trend continues in optimal direction.