Cycle screening data failed to confirm the rally today.
Short term cycle projections surged to even higher levels as the SPX edged to a new high.
As summer draws to a close, I will be taking a short break for grandchildren’s weekend (or grandparents?) this weekend. The usual Friday and weekend Professional Edition posts will not be published Friday through Sunday. There’s really nothing new to report anyway! Regular publication will resume on Monday. Enjoy what’s left of summer!
Contrary to conventional wisdom, extremely low initial unemployment claims have an ominous track record. Since the initial unemployment claims data first set a record low in September 2013, I have pointed out that record low claims suggest a distorted, overheated, bubble top economy. On each occasion over the past 42 years when claims have reached a…
Gold plunged through an important trendline this morning. It needs to recover today to keep the trend intact. The omens aren’t positive.
Cycle screening measures were only slightly stronger on Tuesday. Here’s the rundown on what it means.
The market is pushing into resistance with most signs pointing toward a breakout. This report shows the resistance levels and price projections for this move.
Lindsay Williams of South Africa’s Fine Business Radio and CNBC Africa chatted with me today about the Fed, the end of QE, and inflation.
Listen here or the player below.
Most of gold’s technical indicators continue to weaken as support is threatened.