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When I think about the markets right now, it is Dec 30and we have 2 full days left for the markets to trade in 2014. I'm thinking that we are seeing a little hot air balloon action, where things just keep floating higher on light volume. Maybe people dont want to sell now and have to pay taxes this year on their recent gains, but what will they do in January when they can take some profits and not have to pay taxes on their gains until 2016? Will they lock in some gains?
Lets take a look at the SPX
Notice how we hit that upper trend line this summer in JUNE and just rode it higher for a couple of months, will we do that here? ...
Read MoreUsing cycles for 'timing' various sectors of the markets helps us to anticipate when we can expect a possible turn to take place. True, you get a little leeway of maybe plus or minus a few days, but sooner or later, we reach the end of that time period. It seems that we are rapidly approaching the point where it is Do Or Die time. Each day that passes this late in Cycle timing brings us closer to the point where we begin to see clearly how things are going to unfold. As usual, I have about 20+ charts , and at this point I'd like to start with-
GOLD - With the $USD at new highs, GOLD hasn't been hammered down to new lows as one may expect.
I posted the above chart in my public report, but it still leaves questions. Was that a bear flag that would just break down?...
Read MoreJust a quick post today to show you what I will be watching at the close on this 1/2 day of trading, and also what to look at Friday morning when the markets resume trading. It is noteworthy that OIL sold off again today and OIL is heading back to its lows. Bear Flag?
It's certainly possible that OIL undercuts recent lows. It almost did that today, but notice this ...
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