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The weekend report discusses the current set ups in various sectors, with a bit more focus on the precious metals sector.
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SPX WKLY - I'm not saying that the General markets cannot go higher, this riding along the upper wedge can continue, but this wedge does tell me that I should expect a pull back sooner or later. We'll continue to monitor that as it plays out.
Remember that I mentioned this last week too...
Read MoreI wanted to start the Friday report by looking at the HUI in the year 2000, as it began to rise out of the bear market lows. We will also discuss a few other things pertaining to the Mining sector, including GDX and its current run higher.
HUI 2000 - This run higher was so smooth and predictable. Notice how it found support and resistance repeatedly around the 50 & 200sma. This was a very smooth run.
Now I want to direct your attention to Gold at that time...
Read MoreI'm looking at the General markets and I'm rather neutral going into the U.S. inauguration. The Markets rallied very strongly when Trump was announced the winner of the U.S. elections in November, so they could break higher and rally again, but let me point out a couple of bearish signs now.
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