Basic Breakdown for Basic Materials?

Basic Breakdown for Basic Materials?

   CLICK ON CHART TO ENLARGE A breakdown in Basic materials often does not suggest economic strength is around the corner.  Forgetting the macro picture for a minute, the breakdown in IYM increases the odds SMN might do rather well for those open to scoring on...
Russell 2000 is back to 2007 levels…

Russell 2000 is back to 2007 levels…

CLICK ON CHART TO ENLARGE The patterns in the Russell 2000 have been favorable for a good while.  We have owned a position in IWM, looking for relative strength in the Small caps.  Due to the “Power of the Pattern” we harvested the position in the Russell...
Protect “scoring on defense” gains…

Protect “scoring on defense” gains…

CLICK ON CHART TO ENLARGE Game Plan…NDX 100 has declined enough to find some key support.  Protect the gains in PSQ by adding a tight stop.  If this support in the NDX 100 breaks, odds favor much lower prices.  I mentioned how downside momentum would pick up on...
Deflation/Trend Reversal update…

Deflation/Trend Reversal update…

On 2/24 I mentioned that rear view mirror investing was rather easy, seeing around the corner/what lies ahead, is a little tougher. Yet if we can find tools to help us with the direction of future price movements, it can be very beneficial to our portfolios. I...
Time for a MAJOR “Trend Change?”

Time for a MAJOR “Trend Change?”

CLICK ON CHART TO ENLARGE Commodity Research Bureau Index (CRB) of late hit its 61% fibonacci retracement level at (1) and at the same time FCX was creating a bearish rising wedge at resistance point (3). Major Trend Change at hand?  Too early to tell, yet from a...
Harvesting Silver stocks…

Harvesting Silver stocks…

On 3/2 I shared in a post that I was concerned that a stock market decline could have a large impact to Gold & Silver stocks (see post here)   Earlier this week I noted that Gold stocks were breaking key support (see post here)   In a different post, patterns in...
Doc Copper not feeling well, update…

Doc Copper not feeling well, update…

On Monday I shared that it looked like “Doc Copper wasn’t feeling very well!”  (see post here). Below is an update on JJC and Basic materials ETF (IYM). Support is still in place, yet both look vulnerable to a sizeable decline should support give...