SMP99

SMP99

$GLD $SLV Gold/Siver is trading up around levels that have tended to lead to significant silver outperformance on a relative basis. However, watching the prevailing trend in the gold-silver ratio also provides some clues as to the performance of silver on a absolute basis. On the chart, marked are the three previous cases when the gold-silver ratio has broken...

SMP99

Pattern currently looks to target 2.66. Below recent lows of 1.63 would negate.

SMP99

Some consolidation in the shaded area may set up a long entry for a move to $1400. Would also allow for 200 day MA to start to turn up while working off some shorter term overbought readings.

SMP99

$CL_F $NG_F On a both a relative basis with oil and on an absolute price basis, natural gas is trying to complete a false breakdown. Going forward look for nat gas to significantly outperform oil.

SMP99

Possible bullish crab forming on GDX. Pattern targets 17-17.25 as PRZ. This area also lines up well with previous support/resistance.

SMP99

$CL_F It is likely that the bearish cypher pattern on oil has now been completed. As such I am expecting a minimum pull back to the .382 level or around $32. This lines up well with the previous down trend line and is likely the next reasonable buying opportunity.

SMP99

Look likes potential target of $35.5. Would complete bearish cypher pattern if reached. Price target also lines up with some long term downtrend lines.

SMP99

SPY has a shot at 195-197 before sustained moved below 180.

SMP99

My bias is more for oil up than gold down over the coming months .$CL_F $GC_F $SPY

SMP99

Some levels to watch. Things may be tilting a little too much one way.

SMP99

15 week moving average of New highs minus new lows for NYSE. Readings below zero not been kind for SPY.

SMP99

Maybe need a month or two yet for both, but next leg for both dollar and oil looks higher.

SMP99

A look at the variance in price to the 200 day moving average. Around these levels of variance in the past have presented great opportunities to be long.

SMP99

Performance of the S&P Sectors since 1999. Some might be surprised to see that despite the recent carnage in energy, the 17 yr return on Energy XLE (185%) is only currently outdone by Consumer Discretionary XLY (198%) and is still ahead of Healthcare XLV (163%) for now. However, looking at the next 5-10 yrs it seem very reasonable to expect XLE to underperform...

SMP99

Prior to 2014 there have been 3 instances of the monthly RSI closing above 80 going back to 1988, Each of the three instances have lead to a return to the trend line noted below. In November of 2014, the DOW transports recorded the 4th instance of a monthly RSI close above 80 coming in at 86. Recently the DOWT found support at previous resistance measured...

SMP99

Updated look at a previous chart of the NYSE New High minus New Lows. Displayed on the chart is the 15 day moving average. The 15 day average recently has turned lower at a similar point as in 2011. In 2011 after turning lower, SPY went on to make a new low for that pullback. Whether a 2011 type correction or something much larger is coming, the NH's-NL's...

SMP99

A look at the weekly SPY chart.

SMP99

The Yen is sitting near an important trend line going back to late 70's. Could be near an important turning point. A break in the current downtrend similar to 90' and 98' could be the start of an extended rally in the yen. FXY is the corresponding ETF to watch.