Many of the traders and portfolio managers that I speak to are looking at the beleaguered commodity and industrial materials sectors as ripe for reentry on the long side. They’re watching companies like...
Read MoreThe VIX has been in a bull flag for eight weeks now, the exact same amount of time the index charts have been in a bear flag. A high VIX equals poor market action, of course. The whipsaw created when the VIX is this high makes...
Read MoreSo far my target window for a significant low in nearby copper prices in the 3.10-3.06 area is looking pretty accurate. That said, before we run out and load up on copper, it would behoove us to realize that despite holding...
Read MoreNearly eight weeks old. Not unusual, but definitely boring. The whipsaw driving everyone nuts. There are no rules for length of time. The flag could finally break with a loss of 1101 and reverse just when you think it’s...
Read MoreUnfortunately, Kinross Gold (KGC) has become a casualty of my negative outlook on the equity indices heading into the October cycle lows. It is not showing relative strength, and in fact at times exhibits outperformance on the...
Read MoreA look at the pattern developing in Amazon (AMZN), which is one of my indicators for the QQQ and the QID. My near- and intermediate-term pattern and momentum work is warning me that AMZN is in the midst of a significant...
Read MoreIt was really more than some, but the reason, I say that is because of the late surge in that index, which was very good to see. The Dow was up 220 points with the Nasdaq up 6 points. Not great, but the late action saw it run up...
Read MoreAs of this moment, my optimal scenario for the nearby NYMEX oil price calls for a period of stability and/or a recovery rally that grinds into the 80.50-82.00 resistance area prior to another downside pivot that presses the...
Read MoreAnd that’s putting it mildly if you ask me. The market spent little time printing up ticks, and lots of time moving lower. It was a near crash on Thursday with the Nasdaq down nearly 90 points, and the Dow down nearly 400...
Read MoreAlthough Kinross Gold Corp. (KGC) has endured an 18% decline since its high on September 8, let’s notice in the big picture chart that its major support line from the October 2008 low at 6.85 cuts across the price axis at...
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