Interesting Indexes
Some indexes are beginning to show real signs of life.
Brazil’s Bovespa has broken a downtrend and Bollinger Band, so I’m looking to buy on dips.
Gold miners have been putting in an uptrend longer than any index I cover. With so much political uncertainty, I can’t say I’m surprised. Nevertheless, stay cautious if you’re looking for “safety”.
Maybe the insurance business isn’t dead after all.
Silver continues to put in a nice basing pattern, which suggests another buy on the dip opportunity.
The USD has shown its first signs of weakening. Hopefully this sucker won’t go straight down.
Bulls continue to have something to cheer about as a return to risk emerges from this battered market. Buying dips in commodity markets making technical breakouts is an old trade, but it might be coming back en vogue, at least for a bounce. Since we’re in a bear market, stay flexible, and expect a good deal of volatile sideways consolidation.