The Last Canary: May 2014

Thursday, May 29, 2014

29 May 2014

Long term overbought

Medium term almost overbought.

Short term overbought.

Percent of stocks above 200 day moving average is still slowly deteriorating since 2010. The indexes are staying strong though.

Silver still in a position to finally go up. But it needs to stay above this point. Been waiting way too long for this.

Wednesday, May 28, 2014

28 May 2014

Long term overbought.

Medium term neutral.

Short term overbought.

Tuesday, May 27, 2014

27 May 2014

Medium term neutral.

Long term overbought as it's been since early 2012. At this point, who knows if this will ever revert to something more "normal."

Short term is overbought.

Monday, May 26, 2014

26 May 2014

Long term overbought

Medium term neutral.

Short term overbought.

Wednesday, May 21, 2014

21 May 2014

Medium term neutral.

Short term neutral.

Tuesday, May 20, 2014

20 May 2014

Long term remains very overbought.

Medium term is neutral and quite confused.

Short term becoming slightly oversold.

Silver and gold are still holding important support.

Sunday, May 18, 2014

18 May 2014

Long term overbought.

Medium term neutral.

Short term slightly oversold.

Wednesday, May 14, 2014

14 May 2014

Long term is overbought.

Medium term is neutral.

Short term is neutral.

McClellan Summation Index is in no man's land.

I get the feeling silver is breaking out. Same for gold (not pictured). Gold has a pretty solid inverse head and shoulders.

The PetroDollar is being threatened.

Sunday, May 11, 2014

11 May 2014

Short term neutral.

Medium term neutral.

The McClellan Summation index is rolling over. The Nasdaq SI is already quite oversold. The NYSE has remained stubbornly high.

Gold and silver are still at critical junctures.

Thursday, May 8, 2014

8 May 2014

Long term overbought.

Medium term neutral.

Short term becoming oversold, but not yet there.

Wednesday, May 7, 2014

7 May 2014

Short term neutral.

Medium term neutral.

Tuesday, May 6, 2014

6 May 2014

Long term overbought.

Medium term neutral.

Short term neutral.

Monday, May 5, 2014

5 May 2014

Long term overbought.

Medium term neutral.

Short term may be fading.

Silver is at a key decision point. Will it break up through resistance or down through support? Gold's chart looks interesting as well, but isn't as fully developed.