Walking backwards in circles…

http://stockcharts.com/h-sc/ui?s=GLD&p=D&yr=0&mn=9&dy=0&id=p60546422961&a=255869372 The gold rush which impelled gold and bonds has struck a triangle.  This at least contributes some rationality to the market.  One can now wait for the breakout and…

Continue Reading Walking backwards in circles…

More faces than a banshee

http://stockcharts.com/h-sc/ui?s=%24SPX&p=D&yr=0&mn=6&dy=0&id=p38955316076&a=266398464 In the most treacherous markets of our lifetime many faces are shown.  Now the market is inviting us to buy again.  The pattern is that most enticing of Japanese…

Continue Reading More faces than a banshee

All that glitters…may be…

http://stockcharts.com/h-sc/ui?s=%24SPX&p=D&yr=0&mn=6&dy=0&id=p38955316076&a=266398464 What might have been a b wave now looks likely to be a bottom formation (at best).  (Note volume formation.) And a bottom formation subject to the whims of contrarians…

Continue Reading All that glitters…may be…

More of the same…

http://stockcharts.com/h-sc/ui?s=GLD&p=D&yr=1&mn=0&dy=0&id=p63778548360&a=420770660 Never ones to stick around when unwelcome we fled from our shorts in gold and silver.  Honestly it makes you think you ought not to do anything until this…

Continue Reading More of the same…

Chasing the dog days with shorts…

  http://stockcharts.com/h-sc/ui?s=GLD&p=D&yr=1&mn=0&dy=0&id=p20151420079&a=420770660   We shorted gold and XLE, And for the moment certainly wouldn't be buying anything.  We are on hold until the present  phase plays itself out.   http://stockcharts.com/h-sc/ui?s=XLE&p=D&yr=1&mn=0&dy=0&id=p68704168375&a=420770968…

Continue Reading Chasing the dog days with shorts…