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There are times that the markets ebb and flow and then there are times when they go to extremes. By studying the charts, we can often be prepared for good trading opportunities that can come from many of these situations. Lets discuss what the charts are currently saying, especially in Precious Metals...
First : In the past I have pointed out what the Vix at 12 can often lead to. Notice that when the VIX hits 12 & rises (top box) , the markets pull back (middle box).
In my weekend report, I mentioned with this July 17 chart that I expected the markets to drop. If the QQQ Gapped open, I said to sell it.
Now we see this...
Read MoreThis weekends report talked about "Drops", because many markets like the Shanghai and even our own markets recently encountered them. I mentioned that after a drop, their often comes a great opportunity and now the equity markets were rallying. Gold has entered its cycle timing to put in a low after it finishes its current drop too. What does that mean? It means we should discuss RISK, as we approach what I think is going to be an excellent buying opportunity in the precious metals area. First lets review the markets...
NASDAQ - We have rallied nicely out of the ICL as expected. We are outside the Bollinger Bands (not shown) and we could get a pause here sideways, or even a pullback. Notice that eventually all break outs get tested.
Interesting thing about the chart of the SPX...
Read MoreSeems that lately we've been hearing a lot about "Drops" in the markets. Remember when CNBC was reporting that Shanghais drop may never end until it hits the lows again? Its collapsing! All drops end, and this one looked like it may just return to the break out.
It did..
And the stock market itself just had a drop, blaming the concerns of China, Greece , etc as the problem. Lets discuss these drops since GOLD / MINERS starting dropping rather rapidly last week too. Will it end? Of course. Where and when ?? Lets discuss drops ...
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