1-29 Wkend Report: It’s Adding Up

We are getting the follow through that we expected in many different areas of the Market.  The small pieces of the big picture continue to add up.   Will it continue?  Lets check the charts! 🙂


SPX Jan 27 - I pointed out that the drop mid week was normal, the same thing  happened coming out of the August lows. I still  expected a run higher.

SPX 1-27

SPX Jan 29 - Friday we got our follow through. 

SPX 1-29

Moves higher out of the lows  can be convincing, but will it lead to a break to new highs in a bull market,  or a bounce?

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1-29-2016 follow Up

I wasn't planning on a Friday report, but Thursdays action in several areas was important enough that I wanted to share a few charts.  Also a reader  ( we shall call him  D.F.), pointed out an area of interest  that I will touch on here too.


Lets start with the USD.  I saw weakness and have been saying that I expect it to drop. I posted these charts last week.

USD 1-22 wkly USD 1-26

We have been in Gold & Miners for a while now, but a weak dollar could help Precious Metals and Commodities further.  I will cover this more in the weekend report ,  but for now, what did the Dollar do Thursday? 

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Dancing Markets

The markets are always dancing around on a Fed Wednesday, and often the volatility spills over into Thursday.  Lets take a look at the charts and see what we can see.

SPX - The markets sold off after the Fed Decision.  I called for lows recently and I still expect higher prices to develop from a bounce.  You can see that this is how the markets moved coming out of the lows in August too. I do not expect the recent lows to be broken, but a little more downside is not out of the question. Please notice how difficult it would have been to trade the Lows in August/ September.

SPX 1-27

That being said,  the RUT / IWM looks like a bear flag, so lets look at a few other areas. 

Lets look at the NASDAQ...

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