Was That Smoke & Mirrors?

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Did you see the Dollar rocket higher 1.38 and not  send Gold, Silver, and the Miners to their knees? Silver and Miners actually closed higher, so that was like a crazy illusion.  And then AMZN reported a profit and shot up $70 in after hrs, MCD, GOOG,  and MSFT are up big in after hrs after the markets already broke out higher today. Lets check out the action...

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SPX -  The SPX , DJIA, and NASDAQ broke out today, but the BIIB, IWM & IWC  lagged seriously. 

SPX 10-22 2 Read More

Slight Variations

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Did you read my Tuesday report and the Wednesday report? Not much has changed in the way of expectations really.  We could say that we are  just seeing a slight variation of the same theme.

Wednesday morning I pointed out the resistance above at the close on Tuesday for the   NASDAQ, SPX, IWM, etc.   Even though the Futures were Green, I thought that we would drop later in the day.

NASDAQ Tuesday OCT 20

NASDAQ 10-20

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The Coin Toss

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Many sectors of the market look ready to break one way or the other. Can we gain an edge as to which way they will go, or is it just a coin toss? Lets take a closer look.

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This was the NASDAQ at the close on Monday. It was pushing against resistance in various forms.

NASDAQ 10-19

Notice what seems to have showed up by the close today...

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