LARGER PATTERNS AND CYCLICAL SUMMARY : Computer models for gold the last 2 weeks had suggested 1442-4 for gold and a pullback go 1348-1360 for a 4th wave. Bitcoin is probably done for now but once US stocks top and the next summer crisis develops the buyers will be back. T-notes back to the 4th…
FOR MONDAY: (11/19) The week before Thanksgiving is usually frustrating for traders. By late Monday, traders are disappearing and markets stay in useless ranges with pattern waiting to be completed. Dips on stocks will be bought for a Thanksgiving rally only to give it back early next week. Metals and crude look higher this week…
FOR MONDAY: (11/19) Cycles are mixed for the next few days with some bias toward lower action. Seasonal the market rallies before Thanksgiving and there is probably enough early winter weather to prevent any serious downward action. Weather should also support meats and they will be hard to sell now and holiday trade can get…
FOR FRIDAY: (11/16) Not sure anyone wants to trade after Thursday’s whippy action. Not enough of a definitive reversal signal for stocks without a close above 2750 so will see how it acts overnight. End-of-the-week congestive profit-taking may not give us new clues right away on the congestive markets like gold and silver.
FOR FRIDAY: (11/16) Cycles are volatile into Friday and while grains seem lower and meats also, we have some unusual cycles so watch closely and be prepared.
FOR THURSDAY: (11/15) Thursday is a better chance for a bounce for stocks but bounces have been short-lived and get sold. We will continue to favor short stocks until next week. T-notes project 119.09 and gold and silver had minor breakout but need follow-through to confirm.
FOR THURSDAY: (11/15) Cycles are volatile into Friday and while grains seem lower and meats also, we have some unusual cycles so watch closely and be prepared.
FOR WEDNESDAY: (11/14) Volatility likely to increase into Friday and Nov. 25, and more of it looks bearish than bullish. Crude still needs to go to 4980 at some point and the S & P to 2600. Have to see how risk/reward sets in as we come to the morning.
FOR WEDNESDAY: (11/14) Grains failed as crude collapsed over 4.00 and dragged corn and beans lower. We are not seeing wildly bearish action for grains on Wednesday but if we get failed secondary highs, we may feel better about shorts for the rest of the week. Also need higher numbers for cattle and feeders if…
FOR TUESDAY: (11/13) We looked closely at stocks cycles and most of them point lower into the Thanksgiving holiday and a few days afterwards into Nov. 27. We’re focusing on sales by Nov. 14 at the earliest. Dollar has a good chance to reach upper target of 9770 and 9825. Gold is a lower channel…