As for the markets...I am watching wedge patterns that should end up coinciding with the top of our rally from the march lows.
Transports are not confirming DJ, SPX or COMP. The Transports and Nasdaq Composite are producing a perfect backtest of the rising wedge. With indexes very near their highs, the VIX is not near the lows that it was when markets were here before. Financials are showing loss of momentum and NO volume. There is also a black candle for today's close. Oil made nice moves today....but still has not broken out of its pattern...it seems like that will not happen.
One more spike is all this market has left in it...Gold and Silver and the Dollar all seem to have a little left to go...possibly satisfied by a single gap or move up tomorrow or monday...and just while everyone is looking........up!
I was going to post a chart of the dollar...but Kenny did an excellent one...I included it below...but please check out his blog at here
