We cover it all – US markets, oil, gold, the US dollar and interest rates
Doc chats with Cory about the big move down in almost everything as well as the move up in gold. With markets continuing to break one support level after another the question remains – is the bounce even going to occur?
Click download link to listen on this device: Download Show
I would believe that your 50 month reference is really 50 week or is it 50 day
DGHH; it’s actually the 50 month and that’s why it’s so significant.
The S&P 500 versus the Long Term Treasury Bond – The ETF (TLT), which tracks the long bond, has been an almost inverse relationship to the general markets.
Notice how TLT and the Yen have carried the safe haven status since the August 2014 wake-up call when the S&P had it’s first warning correction:
http://stockcharts.com/h-sc/ui?s=SPY&p=D&yr=0&mn=6&dy=0&id=p61312221472
Lastly, check out how Gold is starting to get back in a groove with the other “Safe Haven” crew, (TLT) the long term treasury bond, and ($XJY) the Japanese Yen.
Birds of a feather….flock together……
http://stockcharts.com/h-sc/ui?s=%24GOLD&p=D&yr=0&mn=6&dy=0&id=p42224555259
In a general sea of red on the investment world’s screen there are a few in green:
Spot Gold – Bid/Ask 1103.60 / 1104.60
Change up +16.10 (+1.48%)
iShares 20+ Year Treasury Bond (TLT)
126.83 Up 1.47(1.17%)
Japanese Yen Up (+0.70%)
Cheers and Bottom’s Up!! to another “Odd Couple” – Oil and the Canadian Loonie:
http://stockcharts.com/h-sc/ui?s=%24WTIC&p=D&yr=2&mn=0&dy=0&id=p82997810719
P.S. – If you don’t like the price per share of (TLT), then try (UBT):
http://stockcharts.com/h-sc/ui?s=TLT&p=D&yr=0&mn=6&dy=0&id=p54922271414
…..but just know that (UBT) is a 2x long term treasury correlation, so it will outperform (TLT) to the upside and the down side movements………
iShares 20+ Year Treasury Bond (TLT)
126.68 Up 1.32(1.05%) 4:00PM EST
ProShares Ultra 20+ Year Treasury (UBT)
82.69 Up 2.89(3.62%) 4:00PM EST
Interesting Doc, your saying not much down left in goldstocks, I have been thinking the same thing, but just today, I was changing my mind, I think I can still see some big % drops in some I watch.
We could do a Bo Polney I guess, always possible, but there just doesnt seem to me to be much interest in them yet, I cant help but think we could still get a 2016 doldrum washout.
Demand is still being met with available supply.
BB; you’re correct—it’ll get dicey as we move into MARCH since some of these will go back and double bottom. That’s especially true for those living on borrowed time.
DOC
As you have stated several times (not to put words in your mouth), it is stock picking rather than the ETFs (GDX, GDXJ, HUI) that you need to focus on, follow, and CAREFULLY select as investments
Always, IMO
Brian
XON on another rollercoast ride today.
Is biotech the go to place now when TPTB want to pump the markets?
IBB is an ETF that tracks Biotech. It may get a bounce here, but it isn’t looking so hot…
http://stockcharts.com/h-sc/ui?s=IBB&p=D&yr=1&mn=0&dy=0&id=p62233064869
HARRY REID………urges calm………….. now the congress is getting excited…zerohedge
Now you know there will be a crash……….this should get everyone excited, with these morons bringing it to everyone’s attention.
Jerry…Very naughty of you…You must not call them morons…You must call them Sir & Siress…
Irish……..how is everything. You are correct, moron is way to kind of a term for the esteemed men in congress.
An analogy of our financial markets. “Please disperse…..Nothing to see here…..”
Ex That’s what happens when one drives a Tesla.
😉
I’m pretty sure the bottom of copper, steel, water, uranium, timber and emerging markets Is Today! Bull hammers on Everything!! Bonanza….
It’s Hammer Time….
OLE’……….
thanks for the added info…………you da man………..(of the hour)
I’m with ya brother….just goofin’ around. Here’s the Uranium ETF (URA).
Hammering out a bottom with that last candle…….. 🙂
http://stockcharts.com/h-sc/ui?s=URA&p=D&yr=0&mn=3&dy=0&id=p91856029752
Thanks for the chart Shad.
Best,
LPG
Right on.
BTW Chartster – Most of my Uranium stocks, PGM stocks, and a few other commodity plays are up today, so I do think yesterday was a pivotal turn in the markets….a least in the short term.
Also, since we were thinking about bullish hammers marking a turn yesterday, I like the one I saw on the chart of the Loonie Matthew had posted on the other market wrap blog, and used that as further validation that both the Canadian Dollar and Oil were also turning up from yesterday’s closing action.
Thanks again for keeping it top of mind!
Thanks for the note Chartster.
Best to you,
LPG
Yes Sir
Best to you
Hi Doc,
Thanks always for your comments. You mentioned the 10 year note would double bottom in March or April. Are you in the same camp as Rick who has A target of 1.64?
I think Rick is on to something—I’ll continue to watch the note and will keep the update from a technical perspective.
RUSH TO THE EXIT…………