Day: August 14, 2019

Stock Market, US

S&P 500; Down But Not (yet) Out

As suspected, yesterday’s wonder rally was just such complete bullshit running on hype. I did not even think of covering shorts (including leveraged fund SPXS against the index shown below) as long as the spike did not take out 50 day moving averages. Now if this pig will kindly break below the yellow highlight I will probably lean shorter by getting rid of some more … Continue reading S&P 500; Down But Not (yet) Out

Gary
Commodities, Precious Metals

3 Metallic Amigos, Cu, Au & Ag Weekly Charts

Weekly futures charts of Doctor Copper, Stodgy old man Gold and his wild little bro, Silver. Copper is still perched at absolutely critical support. Yesterday’s hype rally aside, the cyclical world is under stress and if Copper drops much more it’s probably going to come under a lot more stress. Gold is now stabbing the first resistance zone. It makes sense technically that the rally … Continue reading 3 Metallic Amigos, Cu, Au & Ag Weekly Charts

Gary