Yesterday it was noted that the reversal upward would be a good step in the right direction but that a weekly close in that state was needed to ‘confirm’ (to the degree that anything in a financial market can be ‘confirmed’ ahead of time) a reversal to bullish.
They did not full-on puke as in 'capitulation', but they did burp up gold mining shares based on some interest rate manipulating entity's meeting minutes and the fear that said…
Aside from sounding consistently self-conscious Martin Armstrong seems to find a need to wrap basic and well known (or what should be well known) concepts in cloaks of mystery that…
Having fun yet? If you are a bull or a bear you have probably been annoyed plenty lately as SPX builds out a cute little H&S pattern and chops everybody…
Yesterday’s hard reversal of Tuesday’s bullish move was an unpleasant development for the bulls but this morning, plucky as ever, they are back at it trying to bull the market again (SPX +13.50, NDX +27.50, Dow +87).
Recall that we were using the EMA 20s (orange dotted line on SPX and blue lines on NDX and Dow) as a key for the short-term. On Tuesday SPX and Dow popped above the EMA 20 but the NDX stopped right at it. NDX is a leader.
We have been talking about the EMA 20 on the gold stock ETFs and HUI as the first level of support. Here is the view of HUI holding that area (orange dotted line) so far.
[edit] The post began as a simple view of the inflationary dynamics in play within the precious metals market but as sometimes happens it, err... expanded. Please excuse the wordiness. …
We fully expected a bounce attempt by USD (daily UUP shown here) and to this point that is all it remains, a bounce. It could pop the EMA 20 to…
Well, a weak employment report will not do much for inflationists who believe strong jobs = rising wages = cost push inflation = smart money buys gold. What it will…
Semiconductor index leadership pointing down That is what the chart says folks, bearish. The SOX is bearish in its abdication of bullish leadership in 2015 (top panel) and it's weekly…
I had two of what I consider "best of breed" (BoB) companies per their respective niches in US manufacturing, Faro and Stratasys. I considered the bad Machine Tools sales data…
NDX is a market leader. Even with the positive surprises from the over valued AMZN, FB and LNKD, tech/internet companies are under big pressure. NDX-SPX is just plain ugly. This…
Before I begin this post I am going to note again up front that I spent much of the time pre-FOMC being cautious on the precious metals, especially since silver…
The US is in the midst of one (Bloomberg) It's another piece talking about this "most hated bull market of all time". So many bull wiseguys highlight this while soft…