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After seeing the disconnect in Gold, Silver, and The Miners , I started digging in to see what I could find. It seems that the more that I dig, the more that I am finding. We'll discuss my findings after we review the other market sectors.
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SPX - We are due to drop into a dcl soon. The last one was very mild inside of a consolidation period and now we have a right translated daily cycle here, so I expect that we will see another higher high after our dcl.
Read MoreThe Weekend report covers the general markets and Natgas , etc just fine, so todays report has to focus mostly on the action in Gold , Silver, and Miners. Let's get right to it...
Read MoreWelcome to the weekend report after a semi puzzling week. We saw higher Gold & Silver prices, and lack luster GDX GDXJ performance. Let's get right into the weekend report...
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SPX - I have a target for this move, but on Feb 22 I thought we could get a multi-day pullback to the 10sma before moving higher. This would be similar to what we saw in December.
SPX - We have had a 4 day sideways move to the 10sma, stronger than that dec drop, and another reversal higher Friday. Will we reach 2427 on this run? At this point in our timing, I would expect a dcl before getting that high, and then a continuation higher. The markets have been strong in this area of new highs ( no resistance) so time will tell. As recommended, a trailing stop would have worked very well.
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