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The markets have spoken. They have been ripping higher for weeks and they said, "I need a rest!", and so we had another scalding drop in the markets on Monday. We were expecting a drop into a dcl, but it looks more like a drop into an ICL, since we are overdue for a good ICL too. Let's take a look at Monday activity...
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DJIA MONTHLY- Recently on this chart I pointed out the accelerate rate that the Markets jumped in 1 month. That Monthly candle was a lot bigger than the rest, like panic buying in January.
DJIA- Now the Dow dropped 666 points on Friday and was down almost 1600 points at one point on Monday, wiping out January & Decembers trading. You can see the benefits of a trailing stop when these markets climb relentlessly.
Read MoreFriday gave us what looked like a Melt Down across the board. Like the Theme picture, melting does not necessarily mean that it is time to throw it away. We may find some good buying opportunities when the selling dries up. Let's take a look at the Markets...
DOW JONES #1 - WEEKLY - I was just pointing out this week that we haven't really seen a 2 day sell off in a long time, but we were due for a DCL ( Sell off). Well, the Dow dropped 666 points on Friday ( No, I don't ready ANYTHING into that ) 🙂
Read MoreAfter a quick market review, I was to discuss a bit further the risk reward in front of us in the Precious Metals Sector.
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