We have been expecting the market to peak out. It appears now that we made 3rd step high and March then the step 4 down in late March and now  final Step 5  resulting in new hig . We will not be surprised if  DJI also makes a new high. Russell is now selling at PE of 70.  Dow Jones Transportation did not make a new high and is non confirmation of DOW signal.

Gold has been consolidating  even though NUGT and GDX went below 15 day moving average. Today they are above 15 day moving average. Natural Gas made a new low today and DGAZ ids making new highs.





SPY

IWM

 CURE

 GLD

 GDX

 NUGT

 DGAZ  making new high premarket

 ERX

 XLE

 UVXY

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The markets filled up the gap left on Friday as we had written in our last post. The decline resumed yesterday morning without the market making new highs. A bigger decline can happen now or after reaching a new high which will be extension of this rally

Gold and Silver have been consolidating for sometime and should rally now . US dollar   is ready to go down again against many currencies. Volatility UVXY  started the rise yesterday after the decline in the market started. This will rise only after the rally is over
SPY

 DJI

ERX

 IWM  Going lower as Russell 2000 goes lower

 TNA  Going lower

 TZA  Going higher

 XLE  Ready to go lower

 DGAZ

 GLD Going higher as gold rises

 GDX

 NUGT  Ready to go higher

DUST  Going Lower

 ERX  Going Lower

 ERY going higher

 UVXY  Going Higher

 SVXY   Going lower as the market declines

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As we have been warning you for sometime, the market declined sharply on Friday and wiped out all the gains for this year. Today it will fill up the gap left in the charts between Thursday and Friday.
After that it will resume its decline.
Energy stocks continue to move higher in spite of fundamentals.
 After 4th step correction, Natural gas has  resumed  its decline

SPY

DJI

DJT

IWN

TNA  gave a SELL  signal Friday

TZA

XLE  continues to go up

ERY

GLD

GDX

NUGT Consolidating

Getting ready to go up  after consolidating today

Getting ready to go up

SVXY  completing the final step up

SLV  consolidating

YINN correcting in 4th step down. #rd leg up was completedThursday

YANG

RSX

DGAZ

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Markets are trying to finish the counter trend rally that started  12 days ago. Yesterday we completed 5th step down of the first step down which started on Monday. We are completing now the 2nd sub step up .This will be followed by the stronger 3rd step down.
Third Step Down Started Wednesday Evening( Posted on Thursday morning)  A big decline ahead which will be persistent.

Dow Jones transportation is still near the lows. Advanced decline line remains weak

DJI

 SPY

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