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Strategies & Market Trends : Buy and Sell Signals, and Other Market Perspectives
SPY 675.24-1.2%Nov 4 4:00 PM EST
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Trumptown
To: GROUND ZERO™ who wrote (90657)3/15/2017 7:16:01 PM
From: Underexposed1 Recommendation  Read Replies (1) of 218407
 
I now think this market may stall here for the next couple of days while gold and company continue higher... just a hunch

On the contrary ... I think it is the other way around look at these charts



look at the price of gold.... it rocketed to a nice high but by the end of the day it went back to almost where it started. Gold mining stock investors got excited and you saw good gains in their respective stocks. But I think that enthusiasm will fade when they realize the price is going nowhere right now. Look at the "trigger" indicators... hardly moved a muscle ... gold is still quite bearish.

this is a bear pattern very similar to that from Nov 8 - 29.... unchanged

Now let's look at the SPX



Here we have a solid sustained gain in-the-throat of a Bollie squeeze... in itself this is not a guarantee of a future bullish run.... but things could be a lot worse!!!! Look at the slow sto which leads the charge of a bull run... see how it is about to re-enter that so called "overbought" (but I refer to as BULLISH) area above 80, the MACD is lost its neg slope...and has turned flat (very little but it is not plummeting and at a start of a bullish outbreak it follows the Slow Sto).... the BBwidth is read to pop any day now.

No... IMHO it is the markets that will have a jump... not Gold and this is coming from a guy who has had gold-fever more often that is financially prudent :)
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