"No warning can save people determined to grow suddently rich" - Lord Overstone

  • 7 hours Will Regulatory Rollbacks Make Banks 'Too Big To Fail?'
  • 8 hours Elon Musk’s $2.6 Billion Tesla Challenge
  • 9 hours Tech Giants Could Be First Victims Of U.S. Trade War
  • 10 hours Dow Gains Despite Fed’s Rate Hike
  • 11 hours The Biggest Threat To Chinese Oil Futures
  • 13 hours Spending Bill Could Cause U.S. Debt To Soar To 99% Of GDP
  • 14 hours Precious Metals Slide Ahead Of Fed’s Interest Rate Decision
  • 16 hours China’s Soft Power Grab May Be Bad News For Emerging Economies
  • 1 day The Secretive Wall Street Firm Betting On Bitcoin
  • 1 day ‘Data Is King’: The Oil Industry’s Next Most Valuable Resource
  • 1 day Google Invests $300 Million To Combat Fake News
  • 1 day Zuckerberg Dodges A Bullet As Facebook Loses Billions
  • 1 day Tesla Tumbles As Investors Lose Patience
  • 2 days Are Alt-Coins On The Verge Of A Break Out?
  • 2 days What Should Gold Investors Expect From The New Fed Chair?
  • 2 days Who Will Pay For Trump's $60 Billion China Tariffs?
  • 2 days Vladimir Putin’s Mysterious Fortune
  • 2 days Cryptos Resist Social Media Crackdown
  • 2 days The Death Of Dodd-Frank
  • 2 days Bitcoin Bounces Back Ahead Of G20 Meeting
The App That Democratized Trading Is Now Worth $5B

The App That Democratized Trading Is Now Worth $5B

Investors and customers have rallied…

What Killed Toys ‘R’ Us?

What Killed Toys ‘R’ Us?

In another blow for America’s…

Tesla Tumbles As Investors Lose Patience

Tesla Tumbles As Investors Lose Patience

As Tesla’s Model 3 looks…

The State of the Trend

The major indices didn't disappoint and finished one of the strongest (from a seasonal point of view) weeks on a positive note. For the record, this is what the rest of the year looks like for the weekly SPX:

SPX table
Chart courtesy of OT Seasonal

The trend for the averages in all three time frames (daily, weekly and monthly) remains up, and this rally continues matching the 2011 QE script point for point. Bullish sentiment, however, is stalling and VIX is flashing a warning signal:

Weekly Bulls versus VIX Chart

Notwithstanding that another Fed-released taper trial balloon could precipitate a sell-off at any time, just like happened last August and September, a drop below daily channel support will signal the beginning of a sideways/down move:

SPX Daily Chart
Larger Image

Gold and silver continue to be the worst performing industry groups in 2013, and remain trapped in multiple downsloping channels:

Gold Weekly Chart
Larger Image

Silver Weekly Chart
Larger Image


Back to homepage

Leave a comment

Leave a comment

Sign Up For The Safehaven Newsletter