As I struggle to stay awake after a big Thanksgiving meal (and we haven’t even gotten to dessert yet), here are a few thoughts in the caption area of these charts.
Most markets look like this: a trendline failure and an attempt to clamor back to the broken line which, naturally, I am hoping will faila big decision is coming for precious metals, which is partly dependent on whether miners can conquer their recent gap or notthe exact same situation holds true for gold itselfthe recovery on Friday, Monday, and Tuesday with small caps has been very strong, and a major decision point looms with respect to whether it can beat its recent “lower high” or notthe precise same scenario faces tech stocksas well as the S&P 500it was semis that wrecked the market (all too briefly) on Thursday, and whether or not we resume the weakness is largely dependent on this sector
Tuesday was a fairly lousy day for me (except for my accounts which are long positions, naturally!) and I’ll see if I can make up for it on Wednesday when I’ll have tons more time to focus on trading.
