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Even in the toughest of environments, we see seedlings take root and blossoms shoot up. We also see the same thing happen in the toughest environment in the markets. At the time it may seem quite contrary, but this is also how bear markets can turn into Bulls. Are we seeing that now? lets look at some charts...
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Starting with the SPX. We have expected this rally , but will it lead to new highs, or will it roll over?
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I think that this move is just starting and it can last for a couple of weeks. Notice how the Rally in October didn't lead to new highs and broke down to lower lows. We have lower highs and lower lows in the markets now. I have drawn in several resistance points and we will see how the markets react as time goes on. This is NOT near a point that I would short it. I would remain long, maybe lighten up in a week or so. The BLUE BOX is an idea of what we may see.
We will obviously discuss what's unfolding as time goes on, but take a look at this...
Read MoreYes, Gold and Miners got a little stretched in their recent run higher. We now see a bounce in the markets (Expected) and a pull back in the precious metals area. Lets take a look at the charts...
Read MoreBull? Bear? Bias? We caught The Lows in Miners a few weeks ago, and the rally has surely gone beyond my expectations. I now see many are calling THE END to the 4+ year bear market and calling the start to another phase of the Bull market in Gold. So was the action of the past couple of weeks a guarantee of the Bear Market lows being in? It's best to weigh the evidence and try to allow the facts to speak for themselves. Lets continue to look at all of the markets and weigh the evidence.
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SPX BIG PICTURE - My readers know that I have been calling for the bear market drop in the markets since early last summer. We just landed in a very interesting place this week. Notice the dance around the 200 ma on a wkly basis since the 1980's.
Zooming in...
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