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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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Alex - Chart Freak2017-12-10 16:47:252017-12-10 21:52:33Dec 10 Weekend Report
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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Alex - Chart Freak2017-12-08 11:12:412017-12-08 11:12:41Dec 7 – Falling Into PlaceWhen 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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Alex - Chart Freak2017-12-07 12:00:062017-12-07 12:02:46DEC 7 – Thursdays Mixture
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