The S&P 500 index proxy (SPY) continues to trade within the bearish ivory zone. The bullish power has begun to degrade, but there is still plenty left to push prices up to another new high within this rally. We remain on the sidelines for this index until that bullish energy can dissipate.

  The proxy that follows the price of West Texas Intermediate Crude (NYSE:OIL) came up just .10 shy of our profit zone. Now, the odds are shifting away from that area and we are more likely to see a correction form. We believe that rather than get stuck in this trade for another few weeks,…

  Joy Global (NYSE:JOY) failed to trade down into the green zone, and as a result never “set up”. Had we taken entry, now the bullish power has shifted to the point where we would be taking what profits we had, so perhaps we will get a second chance to enter JOY at sometime in…

  The iShares Silver Trust (NYSE:SLV) has rallied up to test the highs as we forecasted. Bullish power has fallen off sharply, and if profits are not taken at this point, we expect to see this market chop back down significantly in the weeks to come as it digests its new uptrend. To be clear,…