We came into yesterday thinking a pullback was at hand. At 10 am, we were not so sure. But the reversal and this morning’s open simply tells us things are getting a little tougher in and around these levels. To be brief, pullbacks are a normal part of the process. They don’t have to lead…
Yesterday’s action showed markets are now in pullback mode. Recent highs could not be taken out with sellers now overtaking buyers. The worst areas are being crushed while the best areas are now pulling back. Shorter-term support levels have been taken out but again, just a pullback right now. Pullbacks are a normal course of…
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Beats the heck out of me what happens Wednesday but when : The nasdaq is down 70 early and finishes up 25… The dow is down 222 early and finishes only down 51… The lagging Russell, for a change…is up almost 2%… It usually means market already putting a line in the sand after a…
Except for two teases to the upside, we have been bearish on GOLD almost since the highs more than 3 years ago. We are still not bullish. But we have now taken a neutral stance as we think there is a chance a firm low has been put in. A break of recent lows would…
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More of the same. Commodity areas crushed. In fact, energy continues its crash. Yes…that is a slow moving crash. BUT…after the CENTRAL BANK-INDUCED climax low, we are finally starting to see some decent amounts of distribution. As we have stated, markets were stretched, extended and overbought combined with a massive dose of bullishness. This usually…
