The stock market indices opened strong today and reached the session highs in the first 20 minutes, and from there it was downhill the rest of the day as the S&P 500 stair-stepped lower in a neat, orderly channel to retest...
Read MoreThe market had put in a doji yesterday but did not do so at a critical level of support or resistance. We got the expected bounce at the open but did not hold, which often happens away from those critical support or resistance...
Read MoreOn one hand, gold prices cannot seem to catch a bid today, but on the other, spot gold has undergone a very orderly pullback from last Friday’s high at $1250.45 to this morning’s low at $1206.50 (-3.5%). For...
Read MoreWhich simply means that there should be some relief short-term for the market but expecting too much is probably not a good idea since we have some very strong resistance a little more than 1% above closing prices. 1155 is the...
Read MoreThe stock market indices started the day to the plus side but failed at resistance and rolled over hard in the morning. They reached the session lows on a spike down just before noon at about the 1873 area on the Nasdaq 100 and...
Read MoreNewmont Mining (NEM), the SPDR Gold Shares (GLD) and Pan American Silver (PAAS) all exhibit corrective patterns off of the May 12 (last Wed) high into today’s low, which warns us that when the profit-taking abates another...
Read MoreWell, the week ended on quite the negative note, as the stock market indices started sharply lower and moved lower for most of the morning. About 11:30 they bounced, then backed and filled for several hours in what appeared to...
Read MoreWhen Governments start to intervene on everything maybe it’s time for them to stop. Maybe the stock market is sending a message that it has had enough of their constant interference. The Government is trying to make the...
Read MoreIf a picture is worth 1,000 words, then in the case of the enclosed 11-year weekly chart of the EUR/USD only one or two are required to put the situation into perspective: WOW! Or, alternatively, YIKES! In recent days, we have...
Read MoreAre we having fun yet? It sure did feel good for the bulls as we rallied hard off the most recent lows that scared everyone who has ever been associated with the stock market. We went from the end of the world to what a...
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