Jan 16 2016 – Weekend Report

As expected, we have seen quite the sell off in the general markets.  Oil & Commodities have been selling off too. Gold , Silver , And Precious metals are holding up, but are they ready to run now, or will they sell off?  I actually spent a part of this weekend digging in to older charts and making some new ones, so lets take a look. 


While digging into older charts, I actually found this warning chart that I posted in April of 2015,  when I said I thought we were seeing that rising wedge forming.  Also by counting the months of the Bull market, we looked to be late in the bull.   I am re-posting it because it had a logical target to me at that time. 

SPY - We topped in May 1 month later. Now drop to Test the break out?

spy-monthlySPX - We broke the Aug lows Friday and recovered. This is a failure, but we can get a solid bounce soon. Lets discuss a couple of possible scenarios .  One is a flash crash right now, the other is a believable rally that rolls over eventually. 

SPX SHORT 1-15 Read More

1-15-2016 Miner Exception To The Rule

Yesterday I saw a rather bearish development in Miners, so I immediately began doing research to see if what I was seeing was a major concern. I found something very interesting that happened in the past, and I will share that finding with you here,  but first let me review Gold here.


 This was Gold in my last couple of reports, and I expected it to drop down and test the break out. As mentioned, Gold had a very bullish set up, and the C.O.T.remains bullish. Here is how it played out. I expected a back test.

GOLD 1-11 .

We got the back test, but Miners broke down as gold reversed higher.  And with Gold then down pre-market, would this pattern hold up?

  GOLD 1-14

This was Gold at the close Thursday.  We would like to see this triangle hold up, and so far so good.

GOLD 1-14 c

What about the Miners though?  What did I see that was concerning, and what did I find that I thought was important to share with you?

Read More

It Is Not An Illusion

I had this chart in my weekend report. After this weeks selling, it looks more and more like a reality, and not an illusion.

RUT 1-8a wkly

SPX CURRENTLY - I expected a bigger bounce this week, but the 2 day bounce was sold off yesterday. This is a break down and a back test.

SPX 1-13 wkly Read More