Archive for category: Premium

This is a long weekend report, but I want to discuss a few reminders pertaining to The Precious Metals sector, so lets dig right in...

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SPX WEEKLY - I was expecting a drop in the general Markets, so I went short.  The Jobs report was a HUGE miss, but the selling actually started before that report was released.  As you can see, we got a big 1 week drop. Prior drops like that usually were not isolated '1 week wonders', so we may get some follow through selling to the 10 weekly MA.

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I want to discuss a few things as we go through our Market Review today, so let's dig in...

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These first 2 charts are from yesterdays report:

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SPX – The SPX has broken down from the channel, the gap open seems to have back-tested it Monday, and  I still think that we are coming due for a dip, plus…

 

TRAN – The Transports have been leading the way and may  eventually drop to the 50sma.

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VIX  -    In reports last week, I mentioned that the General Markets have been moving fairly smoothly up and out of a V-Bottom.  I also discussed that the VIX looked as though it could start getting choppy and this would cause volatility in the General Markets too.

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On Monday, the VIX surged to the 200sma and the markets sold off.  The VIX MACD also seems positive for a push higher, but it was capped at the 200sma like it has been in the past.  So far the VIX is near recent lows, but I'm keeping an eye on it.

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The Markets themselves have not changed a lot since yesterdays report, but the trading has remained very good, so I want to discuss a little of both. Also keep in mind that Wednesday is Oil inventory day, and I think that may clear up Oils intentions.  Let's take a look...

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