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.

8:23 am PST. JNUG bouncing up from the bottom of the corrective channel. I added my last at 10.35. I expect it to break up out of it this week.

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.

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.

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.