Make no mistake when trying to understand what’s in play here. Yes, we have a major headache with sentiment. No one would argue that a 41.6% spread of more bulls to bears is a real problem that’ll have to be dealt...
Read MoreThe most recent downleg in the ProShares UltraShort Oil & Gas ETF (DUG) from 31.93 to 25.73 looks like a completed bearish structure. The fact that prices reversed sharply to the upside today after first hitting a new...
Read MoreIt was a minor turn-around Tuesday as the indices were soft today and closed lower, but just slightly so. The day started out with backing and filling action, and then they shot forward to new rally highs by midday, reaching...
Read MoreAll of the action in the Market Vectors Junior Gold Miners ETF (GDXJ) since the March 7 high at 41.00 exhibits a series of higher lows juxtaposed against lower highs. In other words, the pattern is a contracting consolidation or...
Read MoreThe stock market indices started out with a move to the upside, which was the high for the day as they came down in steady fashion until mid-afternoon. They managed in the last hour to snapback and close the S&P 500 and Dow...
Read MoreWhat else can you say about today! The market refused to sell all day, even though we tested and failed at the test of the old highs on Friday. You would have thought that the bears could have done some damage today based on...
Read MoreSpot silver continues to lead the charge of the metals and mining complex. The iShares Silver Trust (SLV) and Silver Wheaton (SLW) are in thrust position — as is the SPDR Gold Shares (GLD) and Freeport-McMoRan Copper &...
Read MoreThis is the question we have to ask ourselves tonight. The market had a very nice week with today being the day we tested back up to resistance on both the S&P 500 and Nasdaq. The old high on the S&P 500 being 1344 with...
Read MoreThe stock market indices closed the week with another gain, but had a strong afternoon sell-off and gave back a big chunk of the gains on late Friday afternoon profit-taking. They did bounce in the last 20 minutes back into the...
Read MoreThe stock market indices had a mixed day today and were kind of diverging at the close with the NDX moving up into the high end of the range and the S&P 500 moving down toward the low end of the range. The day started with a...
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