Before we talk about silver and the metals, here is a line from the weekend Daily:
In Transportation IYT, Friday’s bearish candle and breakdown back into a caution phase gives us two very reliable patterns to watch.
IWM must hold …
After taking a few days off, I saw that the Russell 2000 IWM closed at 164.88 a week ago, marginally hanging onto its 50-Daily Moving Average.
Then, Monday the 10th, IWM had an inside day.
Tuesday, it gapped higher.
Thursday …
Today, the Modern Family’s Grand Dad (IWM) broke out of the 6-day range I’ve been highlighting.
It was also the only index to close over yesterday’s high.
This is bullish action, and now the question is…
Can IWM play catch …
Yesterday I described picking top days vs. ranges, and today the markets followed the lines that were highlighted.
The DIA had been confined by a 5-day range until today. Its range didn’t turn out to be a top, but it …
Today, the markets got off to a strong start and then consolidated lower in a very orderly way.
As a result, today was basically a consolidation day that happened to also touch new highs in several markets.
If I was …
Big cap stocks pushed the market higher today without any real notable catalyst.
Big cap stock indexes seem willing to rise so long as there isn’t a compelling reason for them to fall.
This type of price is usually associated …
We (all the residents on our street) have had an ongoing battle with a neighbor.
Since we live in a historical district, you are not allowed to post billboards on bordering walls.
Yet, this neighbor feels compelled to keep posting …
I have rarely seen this.
A second inverted hammer doji in volatility.
That either means that buying is just about over and hello correction, or we have yet to see parabolic type buying come in.
Regardless, something big is coming.…
An inverted hammer doji is created when the open, low and close are all around the same price.
Often, this candlestick pattern signals the end of the down move, or that a reversal is possible.
After a downtrend, this type …
Last night we took a long view whilst sitting atop a truck.
Tonight, we take another long view, only this time, while standing on a galloping horse.
Hence, coming into today we looked at how VXX would do, and how …
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