FED WEDNESDAY July 29

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Keeping in mind that anything can happen on Fed Wednesday,  Lets look at some Pre-Fed Charts and a few possibilities.

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SPX - Nice reversal at the 200sma.   It look like it wants to go higher, but can it finally break to new highs?

SPX 7-28   Read More

A Good Hand

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Have you ever heard the expression , "You have to play the hand you're dealt." ?  Well, that term is usually used when you are dealt a bad set of circumstances in life.  You need to do the best you can with what you have in front of you.  In the markets you can choose to sit this one out, use whats in front of you, and so on.  The choice is yours.  Right now we have been dealt a pretty good hand,  but tomorrow we'll be playing against the Fed.  🙁    Thats not always a  bad thing, but we should also try to  think in terms of what could beat our hand and prepare accordingly. We will discuss that further in this report.  Lets discuss the charts right now.

We are seeing a variety of things in the markets.

First we see that the SPX landed on the 200sma. Futures as I write look ready to give the markets a good bounce.

SPX 7-27 

Remember my bigger picture view posted in the weekend report looked like this...

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Just The Facts – 31 Charts Of Evidence

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For the past few weeks I have daily been pointing out various 'clues' in the Precious Metals Markets indicating that a drop could lead to a nice summer rally in Gold & Miners. Is there any 'evidence' saying that such a rally is still ahead?  Some have sent me articles  ( like the one shown  below) saying that Gold is just a pet rock, Gold is Doomed, Gold has no value, and will continue to drop until it gets to $600-$800.  Well of course anything can happen, but in the weekend report we will look at all of the 'evidence' and draw our conclusions from the charts

REPORT

First, a review of the various markets...

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