I think it is quite clear that the FED is going to raise rate. After the Fed meeting minutes out on Wednesday the market went up. I think maybe the anticipation is ending soon so a more clear action can be seen. However, the question is how much the rate will rise.
We are in a uptrend in the US market, Euro Stoxx 50 and Nikkei. The rest of the market like STI, China and Hong Kong are still in a downtrend. This actually give us a very clear indication of the stronger and weaker market. So long the strongest and short the weakest.
Gold to me is a downtrend. If you read my posting before, you would have known that gold have a 30 years cycle and commodities tend to reverse to the mean. Gold is in the 15 year down cycle. 6 years have passed, so there is approximately another 9 more years to go. The good thing is gold will move quite slowly, so price will not collapse so fast. It take time to even reach 700.
Oil is another commodities that is in the process of reserving to the mean. This is a wilder instrument. They are quite volatile. Oil as well is in a downtrend.
I have got stop out in oil. Shorted the stock market this week. Long and profited on Sterling.