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It is Friday, the last trading day of the week, so let's just do a quick review...
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SPX - Yesterday using this chart , I pointed out that the SPX was running up along the top of the B.B. with divergence and due for a daily cycle low. The Markets dropped yesterday.
QQQ - The Markets began to sell off . We Also discussed that the General Markets were showing divergence in the RSI & MACD, Due for a dip cycle-wise, and showing a much higher number of new lows than new highs at the top here. A dip is due and seems to be starting here...
Read MoreAfter a quick review of the markets, we'll look at some of the stock picks in recent reports and a few new thoughts...
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Maybe he is Long Gold too 🙂
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GOLD - This was a nice break higher and this took place with the USD moving higher an also on the infamous ' Chinese Golden Week'. It was a nice on day pop and I'd like to see some follow through this week.
GDX - Our last report already discussed the GDX : GOLD Ratio, and showed that the Miners have been leading Gold. They kept up with Gold on Tuesday with a nice push higher on strong volume. Since this looks like GDX is coming out of a 1/2 cycle low, it should be able to break right through that 50sma and back test it on a dcl. We'll see.
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