BIG PICTURE WEEKEND REVIEW – SEPTEMBER 7th
In this weekends Big Picture report, I'm going to do a little more coverage of the Precious Metals, because I am starting to see a few things that need discussing. First we'll start with The General markets, Oil, Energy , and the USD...
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Friday Sept 6th
Today is Friday and this is the last trading day of the week. I'm going to start the report with 3 charts from yesterdays report, and then we'll see what happened as Thursday played out.
.In yesterdays report I mentioned...
.SPX – The MACD is bullish and we are no longer dropping to the bottom of the trading range, so with mini-higher lows, this could be preparing to break out. As day 21, I’m not sure how high this run would be able to go before a dip into a DCL would come due. ( Fed Mtg?).
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SOX – With the volume increasing on the upside push, the SOX ( SOXL used for volume) may be leading the way, after dropping to a gap fill Tuesday and breaking above that 50sma Wednesday.
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SDS – Also we have the inverse S&P 500 , an it looks like the sideways consolidation here is weakening. This could double bottom and the SPX could double top.
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Thursday Aug 29th – There Are A Few Choices To Be Made
In this report, I want to review the markets and discuss a few choices that we have at this point...
Wednesday August 28th
We are invested in the Bull Market of the Precious Metals Sector, and even though the weekly charts are looking a bit extended, we keep seeing surprises to the Upside, as upside targets continue to get hit. I did mention in the weekend report that this could be an up week for the Miners, so let's take a look at the Market action ...
I'm not going to spend a lot of time on other sectors, there has been no important change. As a quick review...
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SPX - No change, and this recent trading range could be a back test, held back by the 50sma.
