2:55 pm PST. I totally changed my mind and exited just about all of my mining stocks, including GOLD. +7.80.  I do not like the way the miners closed. And this could be the end of wave 1, instead of wave iv. Too many ifs. Dollar might rip higher.

1:19 pm PST. Good day for the indices with the Dow up 118.06 to close at 20182. It looks like there could be one more pop to the upside tomorrow morning. HYG looks like wants to make a new high.

The dollar had nice gains today as well, which in turn caused gold and silver to sell off. I think there could be one more jolt to the downside in gold tomorrow morning to make day two of the correction from the 1243.20 overlap from yesterday.

Silver’s upper channel line proving resistance.

10:39 am PST. China’s impressive bull run from the end of December.

9:47 am PST. Still long from 84.91. Those prices are long gone and we will not see them again for years, possibly a decade or more. I am going to give these shares to my grandkids, lol.

Yah I know the dollar is going up, but it is going to be an ending wave up on even greater negative divergence.

When I write that “All that matters is the present moment”, I refer to one’s own personal happiness and the present moment of what is happening in the market tick by tick. One can always choose what happens to oneself in the present moment and that is why all that matters is the present moment. If you are always thinking about the future, or dwelling on the past, you forget where you are now. NOW. Where you are now is what matters. What you do now is what counts. Life happens in the now, in the present moment. That is why they say love is what you do for someone else now, on a daily basis, being there in the present moment for another person. Love is not, ok, I will do this for you one year from now, or ten years from now, etc, but I will not be with you now. 🙂 It is what you choose to do now that matters in life. Does that make sense? You have to love what you do now in order to want to do it again tomorrow. Doing what you love now helps make a life-long career.

What happens on the tape on a daily, to hourly, to minute-by-minute, to every second is at least to me, what matters when it comes to entering or exiting a trade. Personally, that is how I trade. Trading happens in the present moment. Yes, you needs some future perspective, and some past knowledge, but trading happens in the now.

Now, I love history. I find history fascinating, and yes I believe that understanding history is very useful to having perspective on the grander scheme of all things market, politics, science, psychology, technology, etc. Legal decisions are usually made on precedent. I personally spent many hundreds of hours researching legal precedent to write some memo on how a judge ought to apply legal precedent to a certain set of factual circumstances. I see similarities in how one could look at historical events and extract the parts that benefitted society and apply those same principles to today’s factual circumstances and then expect a particular outcome.

Some people may misunderstand my tagline.

8:33 am PST. My wave count for HYG. It still can rally to May. It moves slowly, and it is moving slowly upwards to end the major wave 3 from 2009.

7:21 am PST. UUP has made a decisive breakout from the downtrend line. This could be very bullish for the dollar and could culminate in a new high.

7:13 am PST. I still see this morning’s sell off as part of a wave iv correction. I sold my JNUG and GDXJ this morning and then bought them back at lower prices. After gold did its really important 1243.20 overlap, I would expect a pullback 1-3 days. Just when it gives you the signal, it pulls it away and wants to make you doubt it. That is the market for you.

6:01 am PST. I was just looking at my corporate bonds etf, HYG, chart. It has a beautifully clean wave structure. It looks like it is nearing the top of major wave 3. You can see the negative divergence on the RSI on the weekly chart below. The HYG is a very good proxy for understanding where we are on the indices.

5:24 am PST. The Nasdaq continues to lead the indices higher. Gold is taking a brief rest, while the dollar is trying to muster up energy to rally.