Mixed Monday

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So far I think that the action in the markets today basically matched my weekend report, but they were received with mixed fanfare. Lets take a look and review expectations.

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I was looking at SPX like this, trapped under the 50sma and 10sma. 

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Today the Markets gapped open higher and the NASDAQ was up near the 2016 highs. Lets take a look.

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Oct 23 – Weekend Report

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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.

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SPX WKLY - No change, still looks weak.

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Underlying Strength

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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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