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This is our weekend wrap up, and I really like what I am seeing. This is a long report with a good amount of discussion and about 30 charts, enjoy.
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SPX - The General Markets broke out as expected, but we have yet to see follow through.
Let me show you something interesting ...
Read MoreIt's Friday, the last trading day of the week, and things are continuing to move ahead, right on target. Let's take a look...
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When I pointed out the USD on Wednesday, we were looking at a new low on day 32, with a peak on day 16.
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SPX JAN 24th - Tuesday, we were expecting an upside break out, and we also viewed the DOW with a tight bollinger Band squeeze.
SPX - Break out
Read More Some of our trades are running and others have paused. We'll discuss this as we go through our market review.
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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?)...
Read MoreIs what Peeking or peaking? Let's start with the USD-
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The USD was rejected at the 10 & 50 sma last week, but it is in the timing area for a bounce.
Read MoreThe weekend report discusses the current set ups in various sectors, with a bit more focus on the precious metals sector.
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SPX WKLY - I'm not saying that the General markets cannot go higher, this riding along the upper wedge can continue, but this wedge does tell me that I should expect a pull back sooner or later. We'll continue to monitor that as it plays out.
Remember that I mentioned this last week too...
Read MoreI 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...
Read MoreI'm looking at the General markets and I'm rather neutral going into the U.S. inauguration. The Markets rallied very strongly when Trump was announced the winner of the U.S. elections in November, so they could break higher and rally again, but let me point out a couple of bearish signs now.
Read MoreWe'll discuss the theme after a quick review
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There was no real change in the General Markets from the weekend report, however the USD did move as expected. In the weekend report I mentioned that I see weakness in the USD chart. It broke below the 50sma Monday. We can get a bounce in time, but I expect the USD to continue to roll over, as noted in the weekend report.
Read MoreIt has been a great start to 2017, with various sectors bullishly marching higher and plenty of trade ideas to profit from. For now it is time to relax on a 3 day weekend and just review where we find ourselves after last weeks trading.
VIX - I do like certain things about the set up of the General Markets, but the VIX is about as low as it gets before the General Markets form temporary tops. I don't use the VIX to time a market top or bottom exactly, but it does often warn of volatility to come. When the VIX hits the 11 area, we are alert to a possible top forming soon.
So let's look at the SPX ..
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