Weekend Review Feb 28

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We reach the end of the month on Monday, so Monthly charts will come in to play too.   Right now we'll take a look at how things are playing out using weekly and daily charts.

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Is That A Bull Flag?

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On Feb 17th, after the recent run up in Gold, I mentioned that it could Pause and form a Bull Flag.  These are often just a pause along the way  (although they can fail).  So lets discuss the last few days and discuss Golds Bull Flag and other important implications that I am seeing.

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Feb 17 - I discussed a possible Bull Flag forming after a strong run higher. 

GOLD 2-17

Feb 24,  We have the Flag and it is often  just a pause before continuing to run higher.

GOLD 2-24

Then I started seeing similar bullish formations in various Miners, like TGD. This is an ascending wedge or ascending triangle, and usually plays out in a bullish break higher too. Hmmm.

TGD 2-25

Lets discuss chart patterns and look at some more Miners...

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Quite A Ride

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There were reversals all over the place yesterday.  From the Market sell off and Oil reversing higher, to  Gold and The Miners breaking out only to turn lower. What can we expect going forward?

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SPX - Volatility has produced many reversal here at the lows, but I think they were just clearing everyone out before a run higher.

SPX 2-24

In an earlier report, I pointed out this possibility, and we see it playing out...

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