When dealing with Cycles, there are times that they are getting s-t-r-e-t-c-h-e-d, and other times when the count has simply started over.  Right now in the Precious Metals markets we are facing that situation, so lets discus that further after we review some other areas of the markets.

 SPX - more sideways action. Yesterdays rally attempt sold off

    SPX 8-5

Lets look at the NASDAQ...

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What Is The Golden Key

Lets get right to the charts...

I mentioned yesterday that in addition to other things like the SOX, TRAN, and a few other things, AAPL showed signs of cracking. Please dont shoot the messenger, but it sold off further. Watch to see how this acts on the Bounce or recovery move higher. 


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Wasting Time

I wanted to get this report out tonight ,  so it's just going to be a quick review of todays market action and a bit more on GOLD and MINERS.


DJIA - The Good news was that todays sell off ended with a reversal candle

DJIA 8-3  

But there are cracks in the armor for now. Notice above the downward sloping channel with lower lows and lower highs?  Also notice...

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