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The May and June Jobs report numbers came in very low, and it was given an 'F' by many reviewing it. If we get another low number this morning, it will likely be graded an 'F' too. What if the numbers suddenly come in strong? It's probably worth an 'F' too, for 'fudging the numbers'. 🙂
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Today we'll take a look at Oil, Gold, Silver, Miners and some energy stocks that seem to be setting up bullishly.
Read MoreThings still seem to be progressing along in the various sectors of the market that we have been following. Lets take a look.
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SPX - This sideways move is really a bullish consolidation. As time goes by, we get deeper into the daily cycle, but this is holding up rather bullishly. On a wkly chart, it is forming a very bullish pattern.
Tuesday we saw this back test on the NYSE, and it held and reversed higher Wednesday.
Read MoreSPX - The SPX has been consolidating sideways and Tuesday it started to sell off a bit more. I mentioned that we could get a back test, but it recovered a good amount into the close. So not a whole lot has changed here (again).
A bit of a different look for the DOW and the NYSE 🙂
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SPX - Not much has changed over the past several days, but consolidations often lead to strong moves.
Read More We've been seeing some strong Bulls running in 2016, and I dont think that the show is over yet. That is great news, lets take a look in our weekend review...
SPX - We've seen a break out to new all time highs and a sideways consolidation for weeks.
SPX WKLY - Possible back test or it may just break out higher. If it just keeps going sideways and dips down into a dcl, the back test could occur then too. We'll watch it as it plays out.
Read MoreYes, I liked that picture so much that I decided to carry it forward to Friday. PLUS, I'm still waiting for the recent purchases to really run strongly 🙂 . Some of our stocks were green Thursday, even though Gold and the GDX sold off. Lets discuss our markets for a brief Friday report and then review Miners. This is the last trading day of the week, so there is not a lot of new things to say.
Read MoreHang on, They're running again!
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I 'm going to skip the general markets and get right to Oil and Precious Metals. Why? This is a chart from yesterday, and again, nothing has changed.
Read MoreWaiting on Fed Wednesday to see if there will be any special reaction is getting old 🙂
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SPX - This was after Mondays trading, we could see a drop or just continue sideways.
Not much changed , huh?
Read MoreSometimes what looks and feels like a big drop turns out to just be a small dip in the action. I think that we are seeing that in Gold and Miners now. We'll discuss that after a brief market review.
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SPX - I've been expecting a small dip here, possibly back testing the break out after a measured move finishes. That may or may not happen. A sideways consolidation can also act as pause before continuing higher.
SPX - Holding the 10sma is bullish in a run out of the ICL. Temporarily breaking below it and recovering is fine too, I'm just pointing out the recent strength here.
Read MoreI hope everyone is enjoying a nice relaxing weekend, lets review the markets and discuss our expectations for the coming week.
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SPX - The break out that I expected after seeing the 3 white soldiers pattern is in play. Breaking to new all time highs get price above resistance, so a small sideways consolidation may be all that is needed before price continued higher. I expected a back test of the break out based on the VIX being below 12, so that still may happen.
SPX WEEKLY - I know someone that is trading ( holding) UPRO and TQQQ as a result of me pointing out the 3 white soldiers, and they are doing very well. Congrats! I didn't take that trade. The VIX is quite low at 12, leverage at this point may be a bit too much. Use caution.
Lets look at the NASDAQ...
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