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Volatility is here and the markets are rocking and rolling. If you have been reading my thoughts here, you know which ones are 'Buy the dips' and which are not. Lets review.
I said that I was interested in this , for one thing. A break above 22 would be 'Interesting' to say the least. Do you know where we are now?
Well, the markets gapped down big yesterday and and thus Vix gapped open to 24 recently and then sold off back under that line to $21.50 yesterday . Is that the end of it?
Read MoreThis message is an afternoon update.
Read MoreJudging by the intensity on that pitchers face? I'd say he's throwing some heat, maybe a fastball. When it comes to Metals and Miners , however, I think many were fooled the recent action and in that case you may hear them say, "It really threw me a curve ball! " Understandably , the past few years in Metals and miners have been ugly for the bulls, but there were definitely a number of factors that helped us here at Chartfreak to navigate the recent lows, and identify that this was NOT a break down. Its slowly becoming clearer to all that Miners were telling the story and Metals were not forming a bear flag as some suspected. Metals have been putting in some constructive lows. The move higher might become rather swift at this point too , and I'll show you what I mean in this report, but the real question is... Are these rallies going to last? Or should we be alert to future downside? We'll address that too. To the Charts!!
First the general markets. please read this chart .
Not much has changed in my thinking about the possibilities for the general markets going forward, lets review...
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