1:03 pm PST. The miners pulled back yet again, but still remain in a bull flag formation. I am still bullish on gold, silver, and precious metals mining stocks. The SPY caught a bid into the close and it looks like the bull is still alive and well there.

I spotted some interesting volume in the French etf, EWQ, there were about 2.7 million shares block traded at 24.83 and we closed above. It looks bullish for EWQ.

Happy weekend!

11:47 am PST.

Short squeeze coming in the miners. Gld maintaining a very small correction, but the miners vacillating a lot. It is shake out time.

11:21 am PST. EWZ also looks like it has seen an intermediate top. I am longer-term bullish on Brazil.

11:05 am PST. The German DAX has the same wave structure as the FTSE. It looks like a wave (iv) correction around the corner. Support at 11400. Both the DAX and FTSE look like they could continue to rally to new highs into May or even November after a wave (iv) and 4 correction, which is interesting for what it says about the potential for the U.S. and Asian indices.

11:03 am PST. The FTSE also looks like it is going to see an intermediate-term correction.

10:55 am PST. As long as the lower rising trendline remains in tact, I will assume an intermediate correction nearby. If the trendline gets broken, it could mean a much more serious multi-year bear market down into 2020.

10:41 am PST. The HSI is starting to look like an intermediate sell to me.

9:38 GDX has another bull flag on the 1-minute fractal. I think the correction is done.

TLT broke up out of the first wedge and is about to do so on the second larger one. If SPY fails to make a new high, that might just be it, possibly until November. Major wave 4 might be right around the corner.

6:37 am PST. Adding onto my long-side positions here on this pullback after the gap up.

3:58 am PST. I stopped out of my QQQ. JNUG jumped right back up after yesterday’s head fake sell-off. This is uber bullish price action in the gold, silver, and precious metals mining stocks. I actually bought back in after the close yesterday on JNUG at 11.20, but it was just a small position, because the sell-off looked suspicious like a potential wave ii and I wanted to test it. Gold looks like it could close this week above the critical 1243.20 level. Then I will look to see if it will close the month above to confirm the new wave 3 up is on.

I am not going to try to attempt going long the indices anymore. With TLT, gold, and silver looking bullish, it is just not worth the risk. We are so close to a top everywhere I look on the Dow, SPY, QQQ, retailers, corporate bonds, airlines, and banks. It is not worth trying to get those last few dollars that might not happen.

First level of support for QQQ is 128.86. If we close below that, I might buy puts.