If the US Dollar (DXY) remains under pressure, precious metals could be a major beneficiary, especially given the increasing geopolitical and nuclear risk (on top of runaway liquidity created) added to the mix. Right now my work...
Read MoreIt was an interesting week from this perspective. The Nasdaq broke down out of its symmetrical triangle while the S&P 500 and Dow came oh so close but refused to give in. They had the S&P 500 below 1296 intraday (1291)....
Read MoreThe most salient feature of the big picture pattern in Bank of America (BAC) is the triangle or coil pattern that has been developing since the Jan 14 high at 15.31, which has the right look of completion now. If BAC closes in...
Read MoreThe stock market indices suffered a sharp setback today with a big opening gap to the downside, which was followed by a rebound rally that failed. They rolled over, bounced a couple times, and did hold support, but closed at the...
Read MoreMy near-term technical work in Amazon (AMZN) argues that all of the recent action is carving out a base-like formation that represents the ending phase of a downleg off of the 191.40 high established on Feb 14. If such a...
Read MoreThe stock market indices marked time today. They did open sharply lower, but then bounced and basically moved back and forth in a coiling fashion on the Nasdaq 100. They bounced around in the morning, and then pulled back in a...
Read MoreWe had a very bad earnings report last night from Finisar Corp. (FNSR). The affect was pretty wide spread in the technology arena. We had oil refusing to move lower. The market should have collapsed under the weight of these...
Read MoreApart from its reverse split, which leaves us with half the number of shares at double the price, the overall technical condition and set-up in the U.S. Natural Gas Fund ETF (UNG) remain very constructive for near-term upside...
Read MoreThe stock market indices started the day off with a pretty sharp decline, and held right at support where it needed to, and then rallied back very sharply. It spent mid-day consolidating quietly, and then pulled back rather...
Read MoreMy near-term work indicates that this morning’s spike low in Freeport-McMoRan Copper & Gold (NYSE: FCX) at 48.61 followed by a sharp upside reversal above 50.00 (so far) has the right look of the end of the corrective...
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