Oct 23 – Weekend Report

Lets get right to the weekend review.

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SPX 1 week ago - It was struggling to move higher. Not a 'long' or 'short' play going forward, just sideways chop again.

spx-10-13

SPX WKLY - No change, still looks weak.

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Underlying Strength

There was a time when I only released reports Tuesday , Wednesday, Thursday and the huge weekend report would cover Monday. I felt that the Thursday report would cover both Thursday and Friday and that the weekend report caught us up for the Monday trading. With the Bull markets of Precious Metals, Oil, and Commodities coming alive this year, I have released at least a small Friday report almost every Friday in 2016. Why stop now?  

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So this is just another short ( short?  13 charts  )  report to point out that Thursdays dip or slam down  in Gold , Silver, and Miners actually may hint at some underlying strength, and that may be enough to encourage anyone that is a little too light to buy these dips. Lets take a look...

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Step By Step

Things have been falling into place step by step this week. In this report, I just want to point out a few things that I am watching when it comes to our positions in Miners after a brief review of the Dollar and Oil.

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USD - This looks bullish really, but it is very stretched according to cycle timing. It should roll over into a dcl soon. The Precious Metals are ignoring the USD when it rises now, possibly a sign that the Dollar is ready to dip down.

usd-10-19 Read More