My near- and intermediate-term pattern, momentum and volume work argue strongly that natural gas in the grasp of a very powerful countertrend advance. The chart on nearby natural gas futures shows that more than likely nat gas...
Read MoreThose are two nice little events we can all go through together over the next several days. We will start, with the Greece elections over the weekend that will have a real impact on the markets. The market is clearly telling us...
Read MoreNeedless to say, today’s less-than-expected inventory build caught the natural gas market VERY short, which has triggered a mini-panic to cover positions. Whether or not Mr. Market is getting long now is anyone’s...
Read MoreI could end this letter right there. Back tested and cleared the 20- and 200-day exponential moving averages, but once the index charts got near the 50-day exponential moving averages they simply gave up and fell away. Nothing...
Read MoreSince everyone is fixated on the grilling of JPM Chairman Jamie Dimon, let’s have a look at the pattern of JPMorgan Chase (JPM) compared with the Financial Select Sector SPDR (XLF) and Wells Fargo & Company (WFC),...
Read MoreOn May 17 we wrote that the next cycle low for gold is due on June 11th, give or take 4-5 trading days. Last Wednesday’s plunge in spot gold from $1641 to Friday’s low at $1564 (6/06-6/08) appears to coincide with my...
Read MoreThe market was waiting over the weekend to see what would come out of the Euro-zone with regards to the potential financial meltdown in Spain. Would the world come to the rescue or let Spain sink in to the abyss was the real...
Read MoreUsing a composite of my work from intermediate-term to 15-minute charts, I am compelled to make the case that the May 16 low at 17.37 in the Market Vectors Junior Gold Miners ETF (GDXJ) ended the entire corrective/bear phase...
Read MoreLong title? Let’s talk about what it all means. Let’s start with sentiment. Good old fashioned emotion. Who loves, and who hates, the stock market. Why do they? It’s so interesting when you spend time trying to...
Read MoreApart from all the chaos and confusion in the financial markets, one look at the ugly technical condition of the longer-term Crude Oil chart, and we have to wonder if the forces of economic contraction (deflation) are on the...
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