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

The breakout from the secondary high occurred in August and failed to close above the 1.236 Fibonacci extension. It has since had an A-B-C correction and is retesting the break of that secondary high, which also coincides with rising channel support. The move from here will dictate the direction for the next few weeks/month.Read More

The fear throughout the summer has been that a frothy equity market (up double digits YTD), a Federal Reserve that has been reluctant to aggressively lower rates, trade wars with China and other countries, an inverted yield curve, and the cusp of a Presidential election would all serve to dampen the economic outlook and give...Read More

Since 2015, the gold market and bond market (I use the $TLT 20-Year Bond ETF as a proxy for bond market performance) has been highly correlated. Both asset classes are viewed as a risk-off flight to safety. While past performance does not predict future performance, it is worth noting that many are viewing the bond...Read More

Gold has been on an epic run since early May, breaking out of a six-year base and launching almost $300 per ounce in the span of three months. Momentum favors the bulls, and the technicals look very strong over the long term. The backdrop of lower global yields and potential monetary stimulus are key fundamental...Read More

One of my favorite charts is the ratio of the 20-Year Bond ETF, $TLT, to the High Yield Corporate Bond ETF, $HYG. The chart communicates investor risk appetite between low risk, lower yielding US bonds and high risk, higher yielding corporate bonds.Read More

The chart of steel (US Midwest Domestic Hot-rolled Coil Steel) is one of the cleaner technical charts in my queue . . . and it is a disaster zone. I’m looking at the front month weekly chart as a proxy for steel prices. Some key features of the chart:Read More

Platinum has underperformed gold since the ratio double bottomed in 2014. This has been especially frustrating for bulls as platinum's cousin in the PGM group - palladium - has burst to all-time highs through the same period.Read More

For nine months, oil has formed a series of two lower highs and one higher low, coiling into the tip of a large symmetrical triangle. I am paying closing attention to the 54.50 level, where it looks to test rising trend line support and an area with significant market memory.Read More

As we have discussed at length in previous posts, the story this summer has been gold breaking out of a six-year base at $1365 and finally showing signs of strength after may false starts. What has made many gold bulls lingering skeptics has been the performance of silver, which is a smaller market with higher...Read More