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Lets discuss Fed Wednesday
Read MoreI am fairly heavy in cash in my trading account and with cycle timing being where it is in Precious Metals, I am trying to stay that way going into the Fed meeting.
( I will always have a core position in Miners since admonishing that in early February). We get up each morning in North America and Gold is higher, but as they day progresses, it goes nowhere really. Lets take a look and discuss we we can expect.
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SPX - We have a swing low in the NASDAQ, RUT, IWM, etc., but we still do not have a swing low in the SPX yet. That DOESN'T mean that the low isn't in place, it just means that it hasn't confirmed itself with some follow through. This has the look of a bear flag, but I would expect a move higher soon with this set up.
Read MoreThe weekend report will take more of a big picture view, but I really think that everyone here should take the time to skim through Fridays report again. It was more of a detailed idea of what is happening, specifically in Oil and Precious metals. Please go back and at least just skim through those charts when you finish this report.
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SPX - Recall what I said about the NASDAQ, RUT, SOX in the Friday report, and here we have the SPX after Fridays trading.
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