Dec 10 Weekend Report

I think that it is important for this weekend report to FOCUS on the idea of GOLD going on sale, so after a review of the Markets, I am going to have PART 1 of a GOLD SPECIAL REPORT.

 

BANKS - The banks broke out recently, as reported in  recent reports, and after a quick back test, we see the BANKS ( I mentioned JPM, BAC, RF,HBAN, MS, etc ) Moving higher. It is assumed that an interest rate hike is in the books with Wed Fed Mtg.

SPX #1 - We got our back test of the 10sma, likely a 1/2 cycle low.

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Dec 7 – Falling Into Place

 

SPX - The SPX dropped to the 10sma, and this was noted as normal action...

SPX - Thursday was Day 15 and that could be our 1/2 cycle low. This should continue higher, though a quick dip under the 10sma has happened in Sept & Oct, and that dip was harmless.

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DEC 7 – Thursdays Mixture

When I look at the various sectors of the market,  they still seem to be moving at various rates, so we have a bit of a mixed set up.  Let's take a look at this mixture...

 

SPX - Here we have the SPX acting as expected. A possible 1/2 cycle low after getting a bit ahead of the 10sma. Some have been riding this for a long time now,  with a trailing stop.   If you bought UPRO  at the DCL, you could try adding if that was your goal. You can see that the SPX does at times break the 10sma & recover, so be prepared for that possibility. See SEPT & OCT.

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