Happy New Year! We are kicking off the New Year with stocks at all-time highs, oil prices spiking on Middle East tensions, and the precious metals complex following through nicely for our November/December videos. If you haven’t had a chance to watch those videos, they offer a helpful background on the technical setup for metals...Read More
In advance of tomorrow’s Fed meeting and decision on interest rates, I am closely monitoring the S&P500 priced in gold. The S&P500 has broken out to all-time highs and has successfully retested the breakout, while gold has retreated ~$100 from its highs in August, either setting up a washout to a new near term bottom...Read More
In the chart above, I analyze mortgage payments as a function of interest rates and loan size. Much has been written about the increases in home price over the past two decades, as the average home in America has nearly doubled (+88%) from $165,000 to $311,000 (orange line).Read More
The month of November was a significant expression of bullishness in the markets, as the S&P500 knifed through the 261.8% Fibonacci extension with a strong monthly candle close to new all-time highs. Taking a longer term view, the technical tailwind appears to be supporting a run to 4500+ to the 461.8% extension – nearly 50%...Read More
In this video, I analyze the S&P500 chart, which is now meeting up with 20-year long term resistance and the upper bound of its year long channel, but is also breaking out above the 261.8% Fibonacci extension from the 2007 peak to the 2009 bottom in equities.Read More
Anyone interested in learning more about applying Fibonacci levels in technical trading, please join me this Sunday, October 13th, 2019 at 6pm EST for a webinar with my friends at Trendspider. A link to the webinar is here.Read More
One of the disappointments in silver's recent move higher has been the lack of follow through from mining stocks, with Pan American Silver being a premier example. This past week has seen Pan American attempting to close that gap.Read More
The recent thrust has brought out the bulls once again, and while the overbought conditions on the RSI are bullish over the medium to long term, in the short term I think the price is a little stretched. The 50 day moving average is also presently around the $5800 level, which further increases the probability...Read More
