Gold: Ready to Shine?

It’s happening again. The notes from gold bugs are starting to flood in, wondering whether this time is different, whether the breakout is real. Recall that our last update [June 7 Update on Gold] came tantalizingly close to a bullish call. If DXY falls through the midline of the purple channel (96.10) then, sure, GC … continue reading →

Unicorns and Butterflies?

Another day, another V-shaped recovery.  This one overshot our next downside target by 3 points, reversing at a nonsensical Fib level. The talking heads would have us believe that traders suddenly stopped caring about nuclear war and floods of biblical proportions.  But, it was just another sudden collapse in VIX leading algos down the path … continue reading →

Jackson Hole Day

SPX dithered and dallied yesterday, but in the end tagged our downside target before the supportive forces of rising oil and falling VIX came to the rescue. Today, we’ll be watching for signs of policy changes from the brain trust gathered at Jackson Hole.  Currencies, which have been active all week, are already responding.  And, … continue reading →

Beware the Ramp

Yesterday was an exercise in propping up equities until the close, which clearly pointed to a continuation of the slide.  Thanks to oil’s pump and VIX’s dump overnight, however, the futures were able to break out of their funk and are now sporting a 6-pt gain going into the open. This leaves the downside from … continue reading →