NOT MUCH TO ADD

I haven't posted anything for the last few days, but it's because not much has changed. The volume is still very light. If the market can push through 1150 on the S&P 500, I might start to have more confidence in the rally. Today (Wednesday) is the 1 year anniversary of the 379 point move that kicked off this latest bull market. We are also coming up on the 1 year anniversary of this blog (March 23rd). I'm starting to see some bearish price action on gold. One of the most bearish patterns is on GFI. With a fairly tight stop, many of the potential trades had at least a 2:1 reward to risk. The GLD also had some bearish price action, but the price is currently still above its 50 day MA. I'm not looking for a major move down in gold, but it could have a shorter term sell off. The downside target on GLD is around $106.75. For GFI, it is around $11. Keep an eye on the VIX. It is sitting at a historically low level. There is strong support around 17. If you combine the VIX with the fact that the S&P 500 is reaching the resistance level of 1150, you can see the potential for an upcoming bearish move. No, I'm not going to predict another bearish move. I've already made one bad call with the last prediction. I will say that these are the conditions that often proceed a bearish move.