The S&P has broken out above its previous high, however on low volume. The “boys” still trading this holiday shortened week have been doing everything within their power to get above the key resistance level of 1119. Theory goes that if they do, others will eventually follow to 1180 near term. This [...]

I think so and for now at least.  We’ll probably see a move in gold back up about $70-80 near term and beyond that I don’t know.
Buying gold is a pure speculative play.  It has no value other than what’s used in jewelry and other things and historically it’s the only “real” currency in this world.  Alot [...]

The expected breakout hasn’t happened yet.  It’s been a fairly quiet market with somewhat low volume for this time of year.  Basic materials stocks have been strong despite a stronger U.S. dollar.  Gold seems to have lost some of its lustre recently, but is still in a longer term uptrend.  Anything’s possible, but I’m still anticipating [...]

The SP500 has been caught in a 35 point range over the last 3 weeks between 1185-1120 while at the same time the leaders I usually look to have been unreliably weak. Well, over the last couple of days, two of those stocks, Goldman and Apple seem to have bottomed and are now starting [...]

This is usually the strongest part of the year in the markets, but we still remain somewhat cautious. The financial sector appears to have bottomed and is joining the pharmaceuticals, materials, industrials and others to the upside. Does any of this portend a significantly improving economy? Who knows, but the market trend [...]