seems like a quiet day for markets today.
waiting for the next move. ?
S+P hanging at a resistance zone around 2820 area, a target area. retrace looks like 2765 area for a full pullback.
AVXL bleeding down the steps. no surprise. but somewhat carefully this week. IPIX going nowhere and hanging at the bottom zone.
GDXJ had been making a rally but heading toward resistance from 30-33 area. DUST and NUGT for gamblers could go either way.
but 2018 has been a downwave for miners. September bounced, will November fall downward again. I like my chances to buy bottom zone miners at end of year, if I buy any at all.
With the S+P in the Trump era, I like the odds that it continues upward into 2019. and it looks correlated with metals and miners going downward. but that's a tricky dance to watch. needs careful watching.
The great global currency (Gold backed) reset is developing,so owning/buying gold and silver at this bottom zone this year has seemed like a good idea.. we had chances to buy gold below 1200 and silver below ridiculous. but metals have been very suppressed, even now gold bounce has looked weaker than the miners bounce.
How about playing a 3x bullish S+P ETF ?? Anybody? The 2710 bottom was a good entry point.
I think we'll see S+P recover 2900 before the year ends. and S+P 3050 target in first Q 2019.
