Weekend Report – Visibility

Another week that started off a little unclear in some areas, but I think we're starting to see some clarity now. Lets review the current condition of the markets and then focus on Precious Metals sector. 


I have been pointing out the potential resistance in the General markets. With the exception of the Nasdaq , which has done a little better, Markets have been rather stagnant. Lets look at the progress over the Month of October. 

SPX -This was SEPTEMBER 30th, and the choppiness was making it unpredictable and untradeable.


SPX NOW - 1 Month later and it is a tad lower with a big rounding top.  On Oct 13th it broke to a new low and I warned that it now looked like it would NOT go upside until it first breaks to new lows again ( Failed daily cycle). 2077 is currently the 200sma and a possible support.


Lets look at the weekly chart

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Friday October 28

Well, you know the story. I don't usually plan on doing a Friday report. Thursdays report can usually cover what could happen on both Thursday and Friday.  We are specifically focused on Gold  & Miners , so we should discuss that area a bit before the weekend. Let's start with the $USD.


USD Oct 26 - Would the dollar drop into its Daily Cycle Low, or would the 10sma act as suppport? It is overdue to dip down.


USD Oct 27 - It DID use the 10sma as support so far. This Daily cycle rise is longer than normal.

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Oct 26 – Lines In The Sand

At this point in time, we should discuss lines in the sand for protective purposes. First, a quick market review.


SPX -  No Change at this point.  I see a failed daily cycle and weakness so far.


Lets take a look at the USD ...

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