Morning Comment: Gold overbought near-term.


The bounce in the S&P 500 still faces headwinds

The recent bounce in the S&P 500 index has been impressive. However, it still faces serious headwinds and I believe a deeper correction of 10%-15% is likely over the next two to three months. To find out why I believe more downside potential exists for the stock market and the levels I'm watching to confirm that full blow correction has begun,click here to subscribe to my premium news letter.

Gold is overbought near-term (but I love it longer-term).

If the stock market does indeed see a deeper correction, it should be quite bullish for gold. However, it has become very overbought on a near-term basis and thus it could/should see a pull-back over the short-term.

However, I still love gold on an intermediate and long-term basis, so any near-term pull-back should provide another great opportunity to buy the yellow metal. To find out why I'm concerned about gold's short-term potential, but love it on a longer-term basis, check the attached chart below and click here to subscribe to my premium news letter.


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Morning Comment: Russell 2000 testing important support


Trump has egg on his face

Well, the Great Negotiator has egg all over his face. President Trump gave China something for nothing when he delayed his announced tariffs…and China paid him back by shoving it right up his butt ...

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Morning Comment: It's Rarely Different This Time


  • Trump wimps out again.
  • More head winds than when Trump's last flip-flop took place.
  • The lag between "inversion" & recession is irrelevant.
  • It's rarely "different this time."


Trump wimps out

President Trump has backed-off once again on his ...

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The Weekly Top 10: Lower-lows Ahead.


  • A major shift has taken place in U.S. foreign policy that will impact global markets for years to come.
  • The recent bounce in the stock market is a "dead cat" bounce and lower-lows are on the way.
  • WHY ARE ...
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Morning Comment: Something HAS Changed.


The first low is rarely the ultimate low when we get "new-news".

The market has seen some wild swings in the last week…and the recent bounce in the stock market has been quite impressive. However, we need to keep things ...

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Morning Comment: Chips Stocks at Key Level.....Ditto for Gold


  • Chairman Powell seems like a deer caught in the headlights
  • SMH down 5%, next move will be critical
  • Gold looks great longer term, but.......


Chairman Powell seems like a deer in the headlights

Chairman Powell (and the Fed) don't ...

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Morning Comment: Apple, Netflix & Boeing all face key technical levels


  • Quiet day today until we hear from the Fed.
  • Apple's chart looks excellent.
  • Netflix stands at a critical technical juncture.
  • Boeing needs to hold $340 to avoid further problems.


It should be very quiet today until the Fed's ...

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Morning Comment: European Banks on the Brink?


What do they know that we don't know?

Twice now…over the past several weeks…we’ve asked the question, “What do they know that the rest of us don’t know?”…..We first ask it when the Fed sent out definitive ...

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Morning Comment: Big Week...and Bitcoin Testing KEY Support


"Summer doldrums" are very unlikely this week

You’d think that the last few days of July and the first days of August would be prime-time for the “summer doldrums,” but this year, it has the potential to be one ...

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The Weekly Top 10: Some Big Bearish Bets in the Options Market


THE WEEKLY TOP 10

1) Another great week for stocks, but the S&P is still at risk of “failing” at this level (once again). Although one leadership group has been able to play catch-up, three other important ones have ...

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Tesla's Chart Looks Horrible


Some important technical damage has been done in TSLA's chart

Every once in a while we hear the phrase, “This development is a dagger to the heart of…..” We hear it in politics, in sports, and even sometimes ...

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Morning Comment: Big Bearish Bets in the Options Market


  • Yesterday’s decline came on jump in volume, but it was far from a disastrous day.
  • The recent action in the semis and banks have made us more constructive on the market.
  • HOWEVER, there have been some new concerning developments this ...
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