10:21 am PST. Stopped out. Not liking this. If breaks down, might go short. Gonna watch the close.

10:05 am PST. IF GDXJ breaks down, I will be stopped out. It’s okay. I am not going to average down.



9:17 am PST. The French etf, EWQ, caught a bid today after seeing that block trade on Friday, which I thought was bullish. Might be good to take some profits here.



9:03 am PST. Two very large block trades on the core U.S. Treasuries etf, GOVT, just came in. This could mean the wave iv correction that I pointed on TLT is done. This block trade is going to move. The market makers are buying treasuries, probably in anticipation of a market correction.




9:00 am PST. Here is my updated chart of GDX that I posted last Friday about the short squeeze coming. Shorts are getting squeezed and the market is going to squeeze a lot more this week. See the inverse head and shoulders pattern that I posted last Friday working well.



8:29 am PST. The SPY could probably go to 236.20 and then see a sharp sell-off into the close. Or it could just sell off now into the close. Both scenarios would be intermediate-term bearish for March and part of April. I will put up some additional SPY charts to show how long the correction could last.



5:55 am PST. Gold futures did a nice sideways wave iv consolidation. That is bullish. I added to my mining stock positions this morning.

Dow Futures may have topped, or could do one more high during the regular session. If the Dow futures close below 20715 today, look out below.


TLT also showing a minutte wave iv this morning, which I wrote about the possibility of yesterday. It is probably a buy. It has support at 121.47 and I do not expect it to go lower than that. If it does, that would be a good stop.


Sunday Evening

3:38 pm PST. The futures markets are showing that gold, TLT, and silver are probably going to correct during the day session on Monday, as the Dow, S&P, and Nasdaq make their final highs for the month and probably for the next month or so. My wave count shows the Dow and core indices are about to complete their wave v/(iii)’s. TLT shows it needs to do a minutte wave iv.

GDX could correct down to 23.50 on Monday as a result.



TLT popped up a little above the upper wedge line.