TRAPPED

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We were not long the markets over the weekend, but if you woke up Monday and you were?  The above picture is a perfect example of what that probably felt like. Dow futures were down hundreds of points and there was no escaping the bear claws.  We expected a drop, but I was very surprised at just how fast and  deep things unraveled.

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There will be a bounce, notice on the left side of this chart that even in Bear market sell offs, there are bear market rallies.  Pretty big ones.  We want to watch how that unfolds, as mentioned in the weekend report.

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How’s It Going?

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For months I have been pointing out this Rising Bearish Wedge and then a possible topping process ?  Just a few of those charts posted are below.  March, June and then AUG 17,  2015

SPX WKLY 1 SPX WKLY 6-17SPX 8-18 lomgterm

We cant say that this topping process was exactly a surprise...

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One Little Victory

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Another little victory for the precious Metals Sector. I like to enjoy them while I can, since I know how fast these markets can change. We actually saw Gold move higher after the release of the fed minutes yesterday, and that was a small victory.   A short term top may be close, so we'll discuss what that may mean. 

First , lets review these volatile markets.

SPX- The markets may finally be rolling over. 

SPX 8-19

We've been discussing this for weeks and I have mentioned that topping is a process, but notice these additional signs.

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