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Tonights report is going to be a great lesson on how we can view things as the markets ebb and flow , breathing in and out. We're at the end of the week and we saw a little selling in Precious metals Wednesday followed by an immediate reversal Thursday. Does that reversal mean that the selling is over? We will look at a number of things that help to give us confirmation as to whether a short term low is either in, or may not be in place yet. Also buying the dips tips.
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WTIC - First a chart of oil, since many do ask about the energy sector that we were trading over a month ago. We had a reversal Wednesday, but I pointed out that I still see weakness going forward. Patience is needed here.
WTIC - That reversal vanished on Thursday. This needs to prove itself, and it is still proving to be weak.
Now on to Precious Metals...
Read MoreWednesday we saw the Miners (GDX, GDXJ) gap down and close near the lows on fairly high volume. What can we expect going forward? We'll discuss that after a quick market review.
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SPX- The general markets broke to new highs and since there is no resistance here, they have just continued higher. I do expect a dip soon, maybe this measured move will be close enough?
3 reasons that I am expecting a dip...
Read MoreI want to FOCUS on a few things in this report
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