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Count the Green days vs the Red days in Gold for the past 2 weeks, and you could say that it has been in free fall for a bit. We'll discuss that after a market review.
The SPX has been moving rapidly higher and recovering from the August - September sell off quickly. Since the former highs could offer resistance, we may see a drop with the jobs report .
Now I want to show you a chart of the SPX that really looks like a drop could come soon.
Read MoreI want to discus a few things in todays report, and then I will have a small ton of charts & Set ups in Energy and Commodities. I will start with the markets and their nice run higher lately. I did mention that the IWM, TRAN, and the IBB looked to be lagging a bit. IWM had a bullish set up and popped higher, but it hit another short term resistance area. I wanted to see a pop higher if it is going to possibly play catch up.
This was the IWM at that point on Oct 30. I expected a break higher.
IWM Nov 3 - We got he break higher ( Note: We may back test that break soon).
Lets look at the NASDAQ before we discuss Energy, The CRB, & The Precious Metals...
Read MoreWe had some nice reversals in certain sectors today, so I wanted to share a few ideas here with that in mind. Some ideas are Bullish , and a few cautionary notes in there too. This is your Tuesday morning report a tad early. 🙂
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