The video in this report is only accessible to members
The video in this report is only accessible to members

Equity indices managed to extend briefly to follow through on last Friday’s minor breakout despite the intra-day reversal into the close.  However, this bounce is expected to fail sometime this week which could happen between Tuesday and Thursday before turning lower to break December 2022 lows.  While Monday’s Technology strength was seen as a positive for one-day performance out of this sector, Treasury yields and the US Dollar are right near support, and likely start to turn back higher over the next couple weeks.  Overall, key areas to focus on lie near 3950-70 for SPX as resistance, and 3794-3800 as support.  Given no meaningful structural improvement for SPX, watching for evidence of this triangle pattern being broken will give the most clues as to near-term direction.  Based on the 80-day cycle and current lack of confirmation of DeMark weekly confirmation of the various TD signals on many tech stocks, I’m expecting this range is broken initially to the downside.  Any violation of 3794 should bring about a pullback to test and fractionally break 3700 before lows are in place for January. 

The video in this report is only accessible to members

Both Gold and Silver look susceptible to stalling out this week

The Metals ra...

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