Sept 16, 2014 Premarket  6AM
Friday and then yesterday most indices went below the 15 day moving averages thus confirming our prediction of  start of the decline.  Russell 2000, IWM, TNA , NASDAQ all gave SELL signals.

Gold continues its decline, though it appears to be over sold. Natural gas ETFs GAZ and UGAZ gave buy signals yesterday and after any short term declines natural gas will continue its rally.

Federal reserve policy will remain unchanged tomorrow with minor changes in language if any.

DJI

SPY

NASDAQ

IWM

TNA

TZA

GLD

GDX

NUGT

DUST

GAZ Natural Gas ETF

UGAZ  Bullish 3X ETF

DGAZ  Bearish 3X ETF

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After going down in Step 1 , the market has been going up in step 2 on low volume. SPY and IWM and TNA have crossed 15 day moving averages and may be giving false buy signal . Other technical indicators are neutral. We are adopting a neutral strategy at this time. We feel the next  major step is down.
At about 11:30 AM PT , IWM and TNA went below the 15 day moving line and the market is clearly a SELL now for TNA and BUY for TZA.



Gold and Silver continue to move lower but  some kind of rally is imminent as  Gold stocks are oversold. Dollar is overbought and may be ready to go down .

Natural Gas has an ETF  called GAZ.  3X bull  ETF on that is UGAZ and 3 X bear ETF is DGAZ.

 Today Sept 15 it is giving a Buy signal for UGAZ . See updated charts at the bottom.

DJI

SPY

IWM

TNA

TZA

GLD keeps on making new lows.

NUGT  making new lows but appears to be oversold

DUST

The following charts  were updated on Sept 15, 2014 Premarket

GAZ

UGAZ  Ready to give a BUY signal

DGAZ  Has given a SELL signal

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Wednesday Sept 10 6:30 AM

We have been warning you about the decline for a few days now.The indices confirmed the decline by moving below the 15 Day moving averages. Russell 2000 is going down faster than other indices.
Any short term rally will be followed by much bigger decline.
Gold and Silver continue to move lower.You can take profits in GDX and NUGT as GDX has reached 200 day moving average. There is no BUY signal in GOLD yet.

DJI

SPY

IWM  Leg (1) was completed on Aug 4 and Leg (2) was completed on Sept 2 and now we are in Leg (3)  Down

TNA Going Lower

TZA  Going Higher

GLD

GDX

NUGT  No BUY signal yet

DUST

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Markets are consolidating near the top before the decline that started last week resumes. Confirmation of  the start of decline will happen only if  the indices move below 15 day moving averages  and /or they move below the lows established in the last two weeks. In the mean time we cannot rule out  retest of the recent highs or in the case of NASDAQ to make new highs.

Gold mining ETFs GDX & GDXJ are reaching 200 day moving averages. Even though Gold itself is at around $1270, which is way above lows established in 2009, Gold mining shares are near lows established in 2009. Thus a rally in Gold Mining shares cannot be ruled out.  Profits should be taken in any short positions in NUGT  and other 3X  Miner ETFs.

DJI

SPY

NASDAQ

IWM

TNA

TZA

GLD

GDX

GDX 10 year

GLD 10 Year  Gold mining ETFs GDX & GDXJ are reaching 200 day moving averages. Even though Gold itself is at around $1270, which is way above lows established in 2009, Gold mining shares are near lows established in 2009. Thus a rally in Gold Mining shares cannot be ruled out.  Profits should be taken in any short positions in NUGT  and other 3X  Miner ETFs.

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Aug 4, 2014  Premarket update

Extreme optimism and decline in momentum is an indicator for start of a decline in US markets. In spite of a seasonal bias, the markets have not moved much in the last few days. SPX and NASDAQ made intraday new highs but closed near lows which is a bearish signal on Candlestick charts. DJI & DJT & RUT did not make new highs. This is a fractured market and  will weaken soon.
Russell 2000 also made an intraday high but closed below Tuesday's lows.
We do not have a SELL signal yet.

ECB  Cuts rates to 0.05 from 0.15  and will buy asset based securities. It will have effect on European stocks . Euro hits new lows to 1.30. Deflation will continue in Europe and it will not create new jobs. Europe is in recession and Central bankers will not succeed in the long run unless new jobs are created.

DJI

SPY

IWM

TNA

TZA

GLD

GDX

NUGT

DUST

ERX  3X Oil Bull

ERY  3X Oil  Bear

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The US market has been going up on low volume. This is the start of the end of vacations and most traders will be back now and we will see how the markets behave. End of the month and beginning of the month have bullish tendencies. We continue to believe that market is near the peak rather than near start of a big new rally.

Gold may be signalling a SELL signal again

DJI

SPY

IWM

TNA

TZA

GDX

NUGT  Giving a SELL signal

DUST   Giving a BUY signal

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