Weekend Rejoice! Oh, I Guess I Mean Weekend Review

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We are all well aware of what happened in the markets this week, and really it is what we have been waiting for and discussing in the Big Picture Views for a while.  That said, we now have a lot to look at in this Big Picture Review.  Read each chart carefully....  To the charts!

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SPX WEEKLY - I've been looking for a drop into an ICL , similar to January.  There it is, read the chart, and there is more..

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Thar She Blows Matey!!!

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Thar she blows is right!

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GOLD - We have been expecting this kind of 'recognition day ' for a while,  so Let's discuss this BURST higher in Gold and Miners...

GOLD climbed  $28 on Thursday, and it was pretty much steady and straight up.

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Thursday – Hanging On

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I have been mentioning that the markets were due for a drop into an ICL, and I used this chart to show the potential downside -

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NASDAQ AUGUST -  I thought that we might run to the top and then drop into an ICL just like the drops we saw in the beginning of 2018, and ...

 

This chart looks to be a lot of what I was expecting, but I wouldn't just jump in here.  The NASDAQ broke & closed below the 200sma. Even though this could be a shake out, there is no need to try to catch this falling knife. We'll monitor it along the way.

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