Silver Testing This Support For The First Time In 8-Years!
Its been a good while since Silver bulls could say that it is testing support. Well, this week that can be said! Will this support test hold? Silver Bulls sure hope so! This chart looks at Silver Futures over the past 10-years. Silver has spent the majority of the...
Bank Breakout Of Financial Crisis Highs or Double Topping Again?
If the saying "So Goes The Banks, So Goes The Broad Market" is true, banks are facing a critical breakout/resistance test in my opinion. This chart looks at Financials ETF (XLF) over the past 12-years. This chart reflects that a double top took place prior to the...
Gold Indicator Sending Fresh Bearish Message, Says Joe Friday!
Could the Gold/US Dollar ratio be sending a fresh concerning message to Gold bulls this week? Joe Friday says Yes! This chart looks at the Gold/Dollar ratio over the past 8-years. The intersection of two long-term channel met at (1) a few months ago. The ratio was...
Home builders About To Experience Super Bullish Breakout?
Is a very important sector of the U.S. economy about to experience a 13-year breakout? Possible! This chart looks at Homebuilders ETF (XHB) over the past 13-years. XHB peaked in 2016, almost a year before the broad market started feeling the impact of the upcoming...
Natural Gas Is Up 38% Of Late, Is It Just Getting Started???
The S&P 500 has done well the past 90-days, as it has rallied by +7.2%. When it comes to top-performing assets, Natural Gas has done tons better, as it has rallied over 38% in the same time frame. As Natty has screamed higher, is blast off about to take place or...
Spooky Message Being Sent By Banks To The S&P This Week?
How Banks perform in the long-term has historically been important to the S&P 500. Are Banks sending a spooky message to the S&P 500 this week? Could Be! This chart looks at the Bank Index (BKX) over the past 8-years. Since the lows in 2011, the index has...
S&P 500 Index Testing 11-Year Fibonacci Breakout Level
The S&P 500 Index appears to be setting up for an important breakout “TEST”. Stock market bulls are cheering for a breakout, while bears are looking for a pullback off resistance. In today’s chart, we look at the S&P 500 Index on a longer-term “weekly” basis....
Tech Sector Breaking Above 17-Year Fibonacci Resistance Level!
This chart looks at Tech ETF (QQQ) on a monthly basis over the past 20-years, where Fibonacci extension levels were applied to the 1999 highs at (A) and the 2002 lows at (B). Last September QQQ met a ton of selling pressure on its first attempt to break above the 161%...
Are Bank Stocks About to Give a Thumbs Up to Investors?
One week ago, I wrote about the Bank Index (BKX) and the prospects for a breakout. Here’s an excerpt on why the banks are so important to the broader market: “One of the most important sectors of the stock market is the banking industry and bank stocks. When the banks...
S&P Needs This Key Indicator To Experience A Breakout!
Is a leading Tech sector about to send the broad market a key message? In our opinion, yes! This chart looks at the Semiconductor/S&P ratio over the past couple of years. When the ratio peaked around March of last year at (1), numerous indices in the states (NYSE,...
