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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Lets Just Ignore The Elephant In The Room

So lets just pretend that today is just a Wednesday like any other Wednesday.   Things are playing out exactly as expected.  To the charts!


SPX Monday -  I called the reversal last week a trade-able low, and the Quick sell off Monday just a back test of the trend line.

SPX 1-26

SPX TUESDAY -  It's only day 4 , so I expect this run higher to continue.

SPX 1-26 Read More