Dow 20000. Gold at ??

http://stockcharts.com/h-sc/ui?s=%24SPX&p=D&yr=0&mn=6&dy=0&id=p70142979615&a=266398464 The most natural thing in the world is for the market to balk at important symbolic numbers.  Thus the major indices are balking at the  present major step--Dow 20000,…

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Vexed VIX….hexed gold…

http://stockcharts.com/h-sc/ui?s=%24VIX&p=D&yr=0&mn=3&dy=0&id=p61658225390 In five days the VIX exploded more than 50%, from below 13 to above 21.  Turbulence of this sort generally presages  more unpleasantness for those who are not hedged,…

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Waiting.

http://stockcharts.com/h-sc/ui?s=%24SPX&p=D&yr=0&mn=6&dy=0&id=p70142979615&a=266398464 We are in limbo at the moment -- inevitable limbo.  Up wave is followed by down wave or side wave.  This principle is as important as the principle of…

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Nose job…

http://stockcharts.com/h-sc/ui?s=%24SPX&p=D&yr=0&mn=6&dy=0&id=p38955316076&a=266398464 Old highs represent resistance, and that is where the SPX got its nose bobbed in an attempt at a new high.  We are probably in for a downwave now.…

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Breaking Away…

http://stockcharts.com/h-sc/ui?s=GLD&p=D&yr=0&mn=9&dy=0&id=p60546422961&a=255869372 Gold has convincingly broken out of its triangle.  We remain skeptics, but you can't fight the chart staring you in the face and the markets haven't got the zika…

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