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Let's review what the markets have been doing and what that can mean for this weeks trading.
I have repeatedly said that the condition of the financials has concerned me when viewing the markets. Weakness there could bleed over into the general market.
XLF - Friday the XLF broke to a new low, taking out the last DCL. I now expect the financials to sell off over time.
XLF WEEKLY - The weekly chart shows the weakness too.
Read MoreAs stated before here, there are clearly times to trade and then there are times to just be patient. The best times to trade are after consolidations or bases finish forming , and then the trending moves out of those time periods can continue to carry positions higher. Until that time, trading inside of consolidation periods can be frustrating.
Read MoreToday I want to address how, even though we can see movement within 'cycle expectations' get stretched or a bit extended, it is still just a matter of time before Markets seek their lows. I will discuss this in the Precious Metals Section of the report.
SPX - Though this reversal can be viewed as bullish and be bought with a stop under the lows, We still need to see a break out and follow through.
Lat's look at the NASDAQ...
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