SPX Monitoring purposes; Long SPX on 12/27/17 at 2682.62.
Monitoring purposes GOLD: Long GDX on 12/20/17 at 22.49
Long Term Trend monitor purposes: Neutral.
Yesterday the Tick closed at -216 and today the TRIN closed at 1.42 and a short term bullish combination. The above chart is the SPX on a two hour timeframe. The pattern forming over the last several days appear to be a “Flag”. “Flag” pattern normally appear at the half way point of the move. If that turns out the case this time, it would give a target for the next high near 2720 range. Long SPX on 12/27/17 at 2682.62.
HYG (High Yield Corporate Bond) can give leading signal for SPX. In general, HYG trades with the SPX. The HYG can warn reversals are near for the SPX, as HYG move lower as SPY moves higher or SPX moves lower as HYG moves higher where the HYG gives the right directions. Over the last several days, the SPX has been trending sideways to down and HYG as be trending higher suggesting at some point the SPX will start to move higher. Long SPX on 12/27/17 at 2682.62.
The COT Commercials short position stood at 128K last week; up from 119K the week before; still in bullish levels but less so than a week before. The bottom window is the Up Down Volume indicator which is above “0” and rising and bullish. Next window up is the Advance/Decline indicator which is also above “0” and rising and bullish. Top window is the RSI which is greater than 50 and on a bullish signal. Support lies near 2.75. Trend is up and bullish trend could last for months. Long GDX on 12/20/17 at 22.49.