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Many times when markets move , they are often setting up for the next trade. As things are setting up , Its not always possible to tell if the set up is Bullish or Bearish. I have mentioned here what I am seeing in the markets, but with the ECB meeting taking place and the results of that meeting not being released until (supposedly) 8:30 Eastern time, the goal is patience. Often traders & investors dont realize that over trading can cause one to slowly give back the gains recently made. So while we need to invest to make money, we also need to learn patience to be able to avoid knee jerk reactions and head fakes. While we wait....Quick review.
NOTHING has changed with the SPX,QQQ,DJIA, etc
Like yesterdays report 'Groundhog Day" mentioned, as time goes on, not much has changed. One thing I did notice is...
Read MoreI feel like I'm living in that movie Groundhog Day, where you wake up and though some things continue to change, its just a repeat of yesterdays events. The equity markets moved a bit , but its the same old movement, and leaves me with the same conclusion. As for GOLD & Miners, NATGAS, and Oil? I am expecting changed that I will discuss here.
First lets look at the SPX as of yesterdays close
You can see that we are getting the same movement as expected and ...
Read MoreI've started this report a few times and there is so much going on, that I found it difficult to explain everything that I see, so I'm just going to cut to the chase and try to show basically what I am observing in various markets and what the possible implications could be. Lets start again with the general markets. SPX, QQQ, DJIA in JANUARY are still unfolding as I thought they would way back when I posted this in DEC. I saw weakness increasing
Our expected sideways consolidation continues before a directional move takes hold. We look for weakness or signs of strength going forward, to see if this is going to resume as bullish or bearish (short?) Here is what I'm seeing...
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