In our last update [see: Update on Gold, Aug 26, 2016] I noted that GC had come within 2.50 of our 1380 target (from Apr 8) in early July. After seven weeks of chop, it still hadn’t committed by either tagging the target or breaking down. The way I saw it, its fate was tied … continue reading →
Monthly Archives: December 2016
Today should be helpful in understanding where, exactly, we are with our analog. So far, it’s shaping up as a battle between VIX, which continues to be hammered, and CL, which is off another 2.65% so far this morning. continued for members… … continue reading →
It’s a repeat of the reaction to Brexit and the US election. Italy’s referendum has triggered all the usual stock propping mechanisms: CL, USDJPY and VIX. CL officially busted its H&S pattern, USDJPY has rallied over 1% off its lows, and VIX broke down below its rising red channel bottom…again. The result: the eminis have … continue reading →
Every once in a while, we get a nice little reminder that VIX, traditionally a reflection of risk in the markets, has become just another tool by which central bankers and their lackeys drive markets. Early this morning, the S&P 500 eminis were breaking down from a channel established over the past several post-election weeks. The channel, … continue reading →
Our analog seems to remain on track, with the next gut check coming up on Monday. Oil has stalled, USDJPY has backed off, VIX has broken out, and futures are showing a modest loss. Even NKD has obliged, breaking down after tagging our upside target. If you haven’t taken the time to wade through yesterday’s forecast update, … continue reading →
One of the more laughable charts since the election has been the Nikkei 225 (NKD), which has soared 2,600 points in the face of: (1) the election of a protectionist US president, (2) higher oil prices, and (3) higher interest rates. Yesterday, it reached our next upside target of 18,631, which puts it roughly 25% higher since our Feb 9 … continue reading →