Via Energy and Gold.com: After going absolutely bonkers back in August (rising from 10.88 to 53.29) and accomplishing one of the sharpest and fastest rises in its history, the VIX has reverted to form and is on the verge of declining for a record tying 10th consecutive trading session: VIX (Daily) Long streaks of consecutive… Continue Reading

Via Energy and Gold.com: Something unusual happened today in the S&P 500 exchange-traded fund SPY; a perfect doji candlestick:   SPY opened at 196.44 and closed at 196.44 while traversing a nearly 2 1/2 point range during the session. There are a few notable observations: The 50% retracement level of the entire July-August decline has… Continue Reading

Via Energy and Gold.com: From my perch equity market sentiment hasn’t been this poor since at least November 2012, just before equities posted one of their best annual performances ever. That doesn’t mean we are on the verge of another huge upside surge, every moment in the market is unique and equities are at a… Continue Reading

Via Energy and Gold.com: We haven’t seen anything like this in a long time, and perhaps that’s exactly why we are experiencing such a sharp and vicious sell-off across global equity markets. Not even during the 2008-2009 Global Financial Crisis did we see the S&P futures reach limit down before the cash market open, this… Continue Reading

Via Energy and Gold.com: Stocks have gotten whacked in the last 24 hours with the S&P 500 falling more than 40 points from high to low. The daily chart of the S&P (SPY) shows a potential breakdown from a pennant pattern which has formed during the last 6 weeks:   The crucial level to watch… Continue Reading

Via Energy and Gold.com: The chart of 30-year fixed mortgage rates dating back to the early ’70s is a sight to behold: For the last several years American borrowers have been blessed with the good fortune of historically low Treasury Bond yields which have in turn translated into historically low 30-year fixed mortgage rates (a… Continue Reading

Via Energy and Gold.com: All hell has been breaking loose for the last week. From the Shanghai stock market going into full crash mode to Greek citizens formally voting to leave the eurozone to the New York Stock Exchange halting trading for 4 hours, there’s been a lot to be concerned about if you’re an investor.… Continue Reading

Via Energy and Gold.com: This is the 2nd consecutive Sunday night that equity futures are trading significantly lower than where they ended the previous Friday:  E-mini S&P Futures (30-minute) The proximate cause of the large gap lower in equity futures is Greece and its peoples’ willingness to finally exit the eurozone and flip the ‘troika’ (EU/IMF/ECB)… Continue Reading

Via Energy and Gold.com: Nobody cares about gold miners anymore. There I said it. The level of overall investor disinterest in this sector must be at an all-time low. Now let’s be clear here, i’m not saying that bearish sentiment is at a record (I believe it will be difficult to top last November in… Continue Reading

Via Energy and Gold.com: It’s been a long time since i’ve seen such an abundance of yellow/red flag warning signs out there. At this moment I would be remiss if I did not point out all the warning signs i’m seeing: M&A activity during the month of May is set to blow the previous record month… Continue Reading

Via Energy and Gold.com 4 troubling charts:   1. Chicago PMI at levels which have historically almost always correlated with recessions     2. Producer prices offer a strong whiff of deflation…   3. U.S. 1st quarter GDP was absolutely dreadful regardless of all the excuses we may want to make     4. U.S.… Continue Reading

Via Energy and Gold.com: The Dow Jones Transports have been putting in a top for the last six months, ever since the parabolic rally of October/November 2014:   This is at least the 6th test of the 8500-8600 support/resistance zone since last December and the bounces off this support zone have become increasingly shallow and… Continue Reading

Via Energy and Gold.com: A couple of noteworthy charts from the RBC technical analysis team: (click to enlarge) Dow theory non-confirmation: Despite the S&P 500 essentially sitting at all-time highs and the TSX Composite resting just below all-time highs  we are seeing a lot of sector weakness and a distinct lack of participation from the… Continue Reading

Via Energy and Gold.com: The Dow Transports led the equity market breakout in January 2013 and this sector has undoubtedly been one of the primary leaders of the rally since; nearly doubling in the 2 years between November 2012 and November 2014. However, since posting an all-time high at 9310 on November 28th, 2014 the Transports… Continue Reading

Via Energy and Gold.com: With the release of the March non-farm payrolls report it has become plainly evident that the US economy has not reached ‘escape velocity’ regardless of what the perma-bulls might lead us to believe. Equity futures responded by spilling nearly 1% in the minutes following the release setting up a ‘Manic Monday’… Continue Reading