Monday, June 23, 2014

23 June 2014

Hello, I'm moving my data to a new computer and re-installing all programs.  This will take a few days as I have many other competing priorities.

That said, the McClellan Summation index remains in an uptrend until it doesn't.  The mining stocks and metals broke out last week.  All are forming good bases and their 50 day moving average is close (or has already) climbed above the 200 day moving average.

I really don't know how the mining stocks & metals could rise if the broad market falls, but weirder things have happened.  Early 2009 was like that.

Thursday, June 19, 2014

19 June 2014

Solid day by gold and silver.

Wednesday, June 18, 2014

18 June 2014

 GDX has long term inverse head and shoulders.  Seems to be developing into an uptrend with a 50 day and 200 day crossover.

Gold seems to be developing an inverse head and shoulders as well.
Silver has developed a fairly tight triangle and support on its old resistance.

 Long term stocks are as overbought as ever.

 Medium term overbought.
Short term neutral.

My guess is still Dow hits 17K before anything changes.  Gotta roll it on the media.

Tuesday, June 17, 2014

17 June 2014

 Medium term overbought
Short term bouncing from slightly oversold levels

Sunday, June 15, 2014

15 June 2014

 Medium term overbought.
Short term becoming slightly oversold based on recent "low" readings."

Gold and silver have definitely found life off their lower support line again.  Could this be the beginning of the five climax years (based on previous commodity bulls lasting 17-20 years) of this bull market??

Friday, June 13, 2014

13 June 2014

 Buying climaxes rising again.
 Medium term slightly overbought.
Short term continues its fall from overbought levels.

Wednesday, June 11, 2014

11 June 14

 Long term. Overbought.
 Medium term slightly overbought.
Short term declining from overbought levels.

I have some friends with portfolios down 30% from their high watermark.  Granted they were in risky stocks, but it goes to show the growing discrepancy between the Dow and some individual stocks.

Tuesday, June 10, 2014

10 June 2014

 This is quite incredible.
 Medium term slowly working back to overbought levels.
 Short term slightly overbought. Lagging recent peak.
The McClellan index is in an uptrend until it's not.  I'm guessing the Dow will make 17,000.

Monday, June 9, 2014

Monday, June 2, 2014

Sunday, June 1, 2014

2 June 2014

 Medium term overbought.
 Short term overbought.
Long term overbought.