Archive for year: 2017

Let's discuss Monday and keep in mind that we are closing in on the FOMC meeting Wednesday.

.

SPX FROM THE WEEKEND REPORT - After the break out the VIX was below 11!  I expected that we could get a drop and not a continuation higher for now.

I posted this in the comments section near 11 a.m.,  the VIX was popping and the markets were dropping.  This looked like the markets could be rolling over going into the Fed Meeting.

SPX END OF THE DAY -  Then the markets reversed and put in a pretty big reversal candle. It recovered back to the consolidation highs, but it was still down 14 points. The jury is still out, but anyone that jumped in long at the break out or short as the day sold off have both been schooled a bit. The school of volatility.

It's Friday, the last trading day of the week, and things are continuing to move ahead, right on target. Let's take a look...

 .

When I pointed out the USD on Wednesday, we were looking at a new low on day 32, with a peak on day 16.

Some of our trades are running and others have paused.  We'll discuss this as we go through our market review.

SPX - This looks like an inverse H&S and looks to be breaking out higher. The SPX and Nasdaq did hit new highs.

Let's look at the Dow Jones ( Dow 20,000?)...

I wanted to start the Friday report by looking at the HUI in the year 2000, as it began to rise out of the bear market lows.  We will also discuss a few other things pertaining to the Mining sector, including GDX and its current run higher.

HUI 2000 - This run higher was so smooth and predictable. Notice how it found support and resistance repeatedly around the 50 & 200sma. This was a very smooth run.

Now I want to direct your attention to Gold at that time...