A Minnie Victory

Friday was a Mini victory if you ask me, and I’ll tell you why after a brief update of the markets. So far The SPX, Q’s and Dow acted just as I thought they would, they have dropped after making new highs (QQQ was likely not going to make new highs, and it didnt ).   DEC 30 – I posted this that I’d be watching the QQQ’s at the 10sma, it looked weak.

Well, it broke right through the 10sma by the end of Dec 31,  so what now? All doom & gloom from here?

AUDIO          http://www.screencast.com/t/FAQ1ailQ

Not necessarily ,  but from what I see…Buyers better jump in soon, or we may get a deeper correction again.

The QQQ is at the 50sma & in the past we have both bounced from here or struggled & dropped.

I do see weakness, so will some of last years gains  finally be worth selling in January?  Taxes wont have to be paid until 2016?

NAZ WKLY is at an interesting point too. Next week will tell us a lot.

I mentioned before that SMALL CAPS and MICRO CAPS had a nice set up. They are still stronger than Nasdaq at this point,  and still in the process of setting up nicely I.M.O.

Look at the MACD on NASDAQ vs IWC MACD

SPX MACD is also weaker , and price is at a point where it too has stalled / gone sideways, consolidated, etc

Notice on a weekly SPX,   the 10WMA often holds, but the mkts can just go sideways too, so there MAY NOT be a lot of upside until we consolidate further.

Here is an idea for those who are watching the general mkts. I did mention in a report last week that if we drop to the 50sma and slightly undercut it,   we could fill a gap left open down there. You could watch for THAT  as a possible place to go long.  We may just slip below the 50sma and then reverse and re-gain it. you could BUY UPRO and put your stop below the 50sma. In SEPT , however,  we did drop, re-gain, and lose the 50sma again…so be aware of that.

If the markets are so 50/50 right now,  why is the theme claiming a Mini  (Minni Mouse ) Victory?

I have been pointing out the clues Since early Nov that Metals / Miners seem to be basing & Bottoming and that some good profits may be made there.  Some Miners like IAG have gone up 100% and I pointed out this consolidation above the 50sma

Well notice that in just 2 trading days, it is taking on a new look ,  WITH THE $USD Breaking to new highs & GOLD/SILVER slammed down the past 2 days.

IAG is up 100% from $1.40 NOV  lows

Many were focused on “Tax selling season” for miners, but I mentioned many silver stocks as being set up to go higher.

Remember CDE,  it is taking on a rather bullish look too, isnt it? (Up 55%)

Also mentioned here many times was   SAND.  Recently (Dec 24) I  posted this “Base” .  Sand was below $3 that morning

Its taking on a nice look too.  Almost $4 now , and this with GOLD slammed down Dec 31 & Jan 1 (Sand is Up 50% from its Nov lows)

AEM,  NICE sign of strength Friday with Dollar at new highs/ Gold down

DEC 30 –    chart of SLW showing strength, and the last 2 days of selling in GOLD & SILVER,  it also went higher.

This is Still a good entry, it’s under $21 &  just above the 50sma.

What will these do when GOLD/SILVER go up? You are seeing accumulation

 I have mentioned for a while now that AG is looking like a good base. With GOLD/SILVER slammed the past 2 days, it JUST broke above the 50sma.

This is a BUY now,  a second point of entry for me,  it is likely just getting going.

 FSM has been consolidating,  holding strong above the 50sma.  I think it getting ready to move big. Notice the ‘light holiday volume’ . It is a BUY right here , I think we are going to get a nice run in Miners in JAN.

 Let me show you another reason why it’s a MINI-VICTORY.

GDX crossed the 50sma with a bullish MACD cross this time too! PLENTY of upside on that stochastics and …

This all happened while   GOLD & SILVER  were slammed down pre – market to get us to sell our miners, THE $USD was at new highs

$USD  price target was $92

GOLD JAN 2

 SO I have been encouraging my readers here to enter Miners and to see things the way I do,  I have posted many charts  ( over 20 per report in many cases).   I believe many Miners are just getting started , while others are leaders. I also think we are going to get a nice multi week rally in metals / miners / commodities in general in the coming weeks, so being positioned near the lows helps %-Gains to really add up.   I have posted some of the up-trending stocks above and I do see many others setting up nicely & will post those too.  Things are lining up bullishly in my opinion,  I hope I have helped you to see it too.

~ALEX