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Friday, July 20, 2018 4:04:50 PM
The S&P's Long Correction As Gold Shorts Press Their Bets
By: SentimenTrader | July 20, 2018
A really long correction
The S&P is at day #110 after falling into a correction, surpassing its usual length of around 90 days. Other times an S&P correction lasted this long without either setting a new high or falling into a bear market, it ultimately led to 11 new highs and 3 bear markets.
Gold shorts press their bets
Even as gold sinks to a 52-week low, open interest in the futures is rising rapidly.
This is unusual and has led to more weakness. Most of gold’s bottoms have coincided with a sudden and dramatic drop in open interest.
Muddled metals
Palladium is on the cusp of closing at a 50-week low with its worst weekly loss in at least 50 weeks. Over the past 25 years, it has done something similar 5 times.
Small-caps vs tech
The Russell 2000 fund, IWM, was up more than 0.5% on Thursday while the Nasdaq 100, QQQ, was down more than 0.5%. That’s happened 40 other times.
https://sentimentrader.com/blog/the-sps-long-correction-as-gold-shorts-press-their-bets
• DiscoverGold
By: SentimenTrader | July 20, 2018
A really long correction
The S&P is at day #110 after falling into a correction, surpassing its usual length of around 90 days. Other times an S&P correction lasted this long without either setting a new high or falling into a bear market, it ultimately led to 11 new highs and 3 bear markets.
Gold shorts press their bets
Even as gold sinks to a 52-week low, open interest in the futures is rising rapidly.
This is unusual and has led to more weakness. Most of gold’s bottoms have coincided with a sudden and dramatic drop in open interest.
Muddled metals
Palladium is on the cusp of closing at a 50-week low with its worst weekly loss in at least 50 weeks. Over the past 25 years, it has done something similar 5 times.
Small-caps vs tech
The Russell 2000 fund, IWM, was up more than 0.5% on Thursday while the Nasdaq 100, QQQ, was down more than 0.5%. That’s happened 40 other times.
https://sentimentrader.com/blog/the-sps-long-correction-as-gold-shorts-press-their-bets
• DiscoverGold
Information posted to this board is not meant to suggest any specific action, but to point out the technical signs that can help our readers make their own specific decisions. Your Due Dilegence is a must!
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