1-15-2016 Miner Exception To The Rule

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Yesterday I saw a rather bearish development in Miners, so I immediately began doing research to see if what I was seeing was a major concern. I found something very interesting that happened in the past, and I will share that finding with you here,  but first let me review Gold here.

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 This was Gold in my last couple of reports, and I expected it to drop down and test the break out. As mentioned, Gold had a very bullish set up, and the C.O.T.remains bullish. Here is how it played out. I expected a back test.

GOLD 1-11 .

We got the back test, but Miners broke down as gold reversed higher.  And with Gold then down pre-market, would this pattern hold up?

  GOLD 1-14

This was Gold at the close Thursday.  We would like to see this triangle hold up, and so far so good.

GOLD 1-14 c

What about the Miners though?  What did I see that was concerning, and what did I find that I thought was important to share with you?

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It Is Not An Illusion

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I had this chart in my weekend report. After this weeks selling, it looks more and more like a reality, and not an illusion.

RUT 1-8a wkly

SPX CURRENTLY - I expected a bigger bounce this week, but the 2 day bounce was sold off yesterday. This is a break down and a back test.

SPX 1-13 wkly Read More

1-13-2016 Observations

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SPX -  Yesterday I was pointing out the reversal candle and we were expecting a move higher, but would it be just a bounce?

SPX REVERSAL 1-11

SPX - We will get follow through, so traders can trade it, but at this point I do not expect a return to the Bull run.  (See the weekend report for the big picture). Strong overhead resistance is pointed out, if the markets can make it to that area.

SPX 1-12 Read More