Why I am a Gold Bull
Earlier this year in April, I projected that Gold would surpass $1,000 per troy oz. and reach a target of $1,200 later this year or by April of next year. Those targets are still on.
If you look at the chart for the gold ETF (GLD), you’ll see a strong uptrend [...]

Futures are down a little this AM, as international markets and international futures are down also. This is reflected in The Dow World Index, which is down –0.59% as of 7:27 AM.
On today’s Economic Calendar, we have the Producer Price Index at 8:30 AM, and Industrial Production at 9:15 AM. Neither of these is expected [...]

Pre-Market:
Today looks up, as the SPX turned a white candlestick on Friday, fooling my forecast for a bearish day. The candlesticks forecast on 11/12/09 close was bearish, but we finished up for the day Friday. Today the forecast is bullish with a 50 count bullish engulfing patterns to 18 bearish engulfing patterns ratio.
The McClellan Oscillators [...]

Pre-Market:
Futures currently positive at 8:13 AM, but today looks bearish to me. I’m particularly concerned about what looks like a topping process in the $SPX (See the chart below):

I could see as a possibility a pullback in the SPX to the 20 day moving or 50 day moving average range (the blue and red trend [...]

Good Morning. Futures are Down at 7:56 AM, and world markets also down – the DOW world index is down -.36% as of 7:58 AM this morning. Bullish to Bearish Candles yesterday forecast this open with a reading of 11 bullish engulfing to 60  bearish engulfing candles. The McClellan Oscillators still look healthy.
My candle pattern [...]

Pre-Market:
I had a friend who graduated from college a while back Cum Laude — I graduated, lawdy lawdy.
Did I say that “B” word, as in “BULL”, yesterday?  Just about every domestic equity in my trading portfolio was down yesterday, while the DOW posted a window dressing gain. The broader S&P and NASDAQ were also down.
Last [...]

Pre-Market:
Good Morning! It looks like we might be off to a slightly downward start at open this morning, with futures down and international markets mixed at 5:17 AM. This is supported by my 23 to 35 bullish to bearish candle indicator. However, don’t let that discourage, I have scoured the market summaries, oscillators, and bullish [...]

Pre-Market:
Good Morning! As I wake up with a cold this Monday morning, it’s extremely bullish out there. Last week the market shucked off a surprisingly high 10.2 % unemployment rate reading on Friday, and then threw us a curve ball by finishing up, as I implied it might. The S&P continues higher on a declining [...]

Pre-Market:
10.2% — wow. This is higher than consensus estimates of unemployment 0f 9.9% to 10.1%. I can’t image the market today taking this as a positive sign, perhaps another big selloff Friday.
However, the market has been known to throw a curve ball quite often, so I’ll stay away from making predictions. Yesterday I forecast a [...]

Pre-Market:
As of 8:00 AM this morning, futures are very slightly up with down overnight markets across the globe. I can envision a slope upward in the market this AM for the first 30 minutes, followed by a tail down for the rest of the day. I don’t see any positive momentum in the market now. [...]