Think Out Loud

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Quick update:

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WAITING

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"The Train has left the station".   In trading, no one likes to hear those words. We want to be ready to get on board before the train leaves the station.  Today we will discuss the schedule of the GOLD TRAIN, and see  when it is due to leave the station.  First lets look at the markets...

In the weekend report, I mentioned a pullback was near based on Fridays charts of the SPX, NASDAQ and the Vix. SPX was at prior highs again. Nasdaq was gapping up outside of  the B.Bands.

SPX 7-17

Tuesday the SPX looked like this  as it dropped Tuesday & Wednesday...

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Be Prepared

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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).

VIX 7-21

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. 

QQQ 7-17

Now we see this...

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