So where are we after a couple of days of inconvenient activity for bulls? S&P 500 is only testing its SMA 50 as it has on 4 previous occasions this year alone. The Dow, which took in all that rotating money last week is still nowhere near its MA 50. The leader, Nasdaq 100, which has taken in much rotating hot money over the last … Continue reading Market Snapshot
Don’t get me wrong, I think the stock market is entering a dangerous window whether or not this is the start of a real correction under pains of TiC & LiC. The C30, due in September or thereabouts per my admittedly amateurish cycle work, is only one of several things leading me toward that conclusion. But speaking of “amateurish”, I have mentioned in the past … Continue reading Will Hickey’s “Bomb” Finally Go Off?
The ratio of Junk to long-term Treasury bonds is an indicator of the will to speculate in financial markets. Is the large relative sell volume a sign of capitulation prior to a new stock rally as it was in June, or does it mean business this time? Regardless, Junk/Treasury ratios have been negatively diverging the stock market ever since Trump was elected president. So let’s … Continue reading An Ongoing Negative Divergence for Stocks
A quick update to gold, silver and the miners. Gold has had a potential bounce target to 1300 in the cards, per this daily chart (as of yesterday’s close). Here is a real-time view, at 1285. Silver was at the top of its bounce zone at yesterday’s close. Here is the real-time view. Silver has broken a downtrend line but not necessarily broken the down … Continue reading NFTRH; Precious Metals Update