The Gold Proxy (NYSE:GLD) has broken out to new highs and looks overheated in the short term. We would expect a new correction to form as the bulls rest take profits before re-booting and building up their strength for another rally attempt.
The S&P 500 index proxy (SPY) continues to trade within the bearish ivory zone. The grinding bullish power has finally been conquered and the bears have control of the market. We are forecasting that this bearish control is likely to be short lived, and that at least one more bullish surge will be seen…
Qualcomm (NASDAQ:QCOM) has whipsawed back into the green zone as the bulls and bears battle for supremacy. We will stick to our plan as the objectivity measured odds for success or failure have yet to shift against our position.
OIL is the ETF that follows the price of West Texas Intermediate Crude. After a failure to test the green zone last week, this market is offering second chance at a long opportunity. We are forecasting a push higher in prices that should take us up above the $6 area…
OIL is the ETF that follows the price of West Texas Intermediate Crude. After a cycle failure a few weeks ago, this market is offering another long opportunity. We are forecasting a push higher in prices that should take us up to the $6.40-$6.60 area…
Qualcomm (NASDAQ:QCOM) has formed a sustained pennant pattern on its daily chart. Our forecast shows that the bullish pressure has risen to a level that should produce a breakout to the upside.
The S&P 500 index proxy (SPY) continues to trade within the bearish ivory zone. The grinding bullish power continues to push price higher and is starting to attract breakout players. This new constituency is likely to fuel the bullish move for one more leg, and we will remain on the sidelines until we see the…
SLV (NYSE:SLV) is the ETF that tracks the price of Silver. This market has rallied substantially since our initial call, and looks poised to move even higher after a correction can form.
IWM is the exchange traded fund that tracks the Russell 2000 index. (NYSE:IWM) This index acts as a proxy for the smaller business in the US that don’t have the big international cash flows that many of the corporations in the SPY have. We are seeing all the signs of a deep cyclical top in…
