It’s in a risk ‘OFF’ alignment with all durations dropping but the curve rising. Meanwhile, here’s the chart of the 30 vs. the 5 year spread. Obviously risk is in a downtrend bigger picture, but it is a little bouncy today… While other indicators are positive for the gold sector, this one – along with the very bullish stock market – has been a … Continue reading Yield Curve Today
It’s a monthly chart and these guys move like molasses on a cold winter day. But we might wonder how long it may take for the stock market’s loss of leadership to manifest in some problems. The chart is untouched and unchanged in status since it was produced a few months ago. So for bulls it’s situation normal. The SOX index has another 64 points … Continue reading Small Cap Leadership Kaput
We have a developing potential for a stock market upside blow off on the table for reasons explained previously. With this update I want to present the indicators that argue to the contrary and ask us to manage risk. I cannot predict which way the chips will fall (no pun intended) but I can continue to put up indicators for guidance.
First let’s preface by stating that I have a dislike for gold sector pom pom wavers as evidenced by this post at Biiwii: Huey, Dewey & Louie. Second, let’s ask what kind of sense it makes to hammer gold mining operations because oil is going down. Gold is exploding higher in relation to the thing that fuels all that heavy equipment at the mines. I … Continue reading Gold vs. Oil
Per the simple measurement of this chart and others like it we have used, we find WTI crude oil at target this morning.
Let’s remember that targets are not stop signs, they are objectives based on pattern measurements.