US Dollar Correction Over? Big Test Underway!
The U.S. Dollar Index has been mired in a correction for several months. During that time, stocks, gold, and oil exploded higher in 2017 and early 2018. But the greenback has put together a multi-week rally. Is the correction nearing an end? Looking at the chart...
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Metals Leading Indicator Breakout Test In Play
CLICK ON CHART TO ENLARGE This chart looks at the Junior Miners (GDXJ) to Gold ratio over the past 7-years. Metals bulls want to this ratio heading higher, to send a positive message to this sector. The ratio has spent the majority of the past 7-years inside of...
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Leading indicator-Another historic topping pattern?
CLICK ON CHART TO ENLARGE Few industries are more important to the overall economy than the Housing Sector. The chart above looks at the Dow Jones Home Construction Index over the past 18-years and how it has peaked and bottomed ahead of the broad markets in the past....
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Silver attempting breakout at 20-year support
CLICK ON CHART TO ENLARGE This chart looks at the Silver/Gold ratio on a monthly basis over the past 20-years. When the ratio is heading higher, Silver is stronger than Gold. Since the 2011 highs, the majority of the time the ratio has been heading lower, reflecting...
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Coffee ready to perk up? Testing 14-year support
CLICK ON CHART TO ENLARGE The long and short-term trend for Coffee remains down. Coffee has lost nearly two-thirds of its value since the highs in 2011 and is nearly a third lower over the past 18-months. These declines have Coffee testing 2015 lows and a 14-year...
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Small Caps could rally another 8%, says Joe Friday
CLICK ON CHART TO ENLARGE While the Dow, S&P 500, Nasdaq 100 and the NYSE all continue to chop sideways and remain below highs hit in January, the same can not be said for Small Caps (IWM) and Micro Caps (IWC). The 2-pack above highlights that IWM & IWC both appear to...
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March Turning Point? Tech Bulls Don’t Want To See Selling Here!
Tech stocks have been the life blood of the bull market, especially the run higher over the last 2 years. But the recent selloff has caught investors attention. The bulls hope that the selling is morphing into consolidation… that will eventually breakout to the...
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Stocks- Multi-decade breakout tests continue taking place!
CLICK ON CHART TO ENLARGE The 4-pack above highlights that key stock indices remain in long-term upward trends and price action over this year has not changed the long-term trends. Each index remains inside of channels that have been in place ranging from 9-years for...
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Crude Oil- About to rally 10% more, to $80?
CLICK ON CHART TO ENLARGE This chart looks at Crude Oil on a monthly basis over the past decade. We applied Fibonacci retracement levels to the highs in 2011 and the lows in 2016 at each (1). The rally of late has Crude attempting to break out above the 50%...
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Small & Micro Caps poised to rally another 10%?
CLICK ON CHART TO ENLARGE Year to date, Micro (IWC) and Small Caps (IWM) are acting stronger than large caps. The strength in IWC and IWM have both of them testing all-time highs this week, which could be the top of bullish ascending triangles at each (1). Two-thirds...
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