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Trader insights – Wednesday, Oct. 15

The gap down this morning in U.S. indices probably represents a minor low, and the market should be preparing for an upward retrace that could last a day or longer. In currencies, the Dollar rally is still strong, and the recent correction probably represents part of a small fourth wave that will precede a climb higher into late October or November.

Bradley timing model for late 2014

The inflections of the Bradley Siderograph on July 16, August 8, and September 22 proved to be especially significant. Here are the next dates to watch.

Trader insights – Monday, Oct. 13

The Dow probably will erase its gains since February fairly quickly, although there may be a re-test of the broken trend line from below before price resumes falling.

Trader insights – Friday, Oct. 10

We are now provisionally treating the breakdown that we have seen on a small time frame as an indication that prices want to fall below recent supports in a powerful third wave in SPX and in similar patterns in the other indices.

Trader insights – Thursday, Oct. 9

The structure of Wednesday’s rally in the U.S. indices appeared to contain five waves, making it “impulsive” and suggesting that it was merely the first part of a larger upward correction… However, we must emphasize that this is a tricky area.

Stock indices bearish but lack confirmation

October may turn out to be a difficult month for traders in U.S. equity indices. Here are some things to watch.

Trader insights – Friday, Oct. 3

Major U.S. indices are starting to break through supports. First, consider the weekly chart for the Russell 2000, which appears to be the weakest among the indices…

Trader insights – Tuesday, Sept. 30

The Russell 2000 and the S&P 400 Midcap index sometimes give indications of where the larger market is preparing to go. If there’s real sentiment behind a developing move in the more well-known indices, then it often is reflected first in the Russell and Midcap. We are seeing that development intraday today, as both of those indices appear fairly bearish.

Can gold follow silver to new lows?

Both metals should decline for several weeks

Trader insights – Thursday, Sept. 25

The market climbed higher than we expected on Wednesday, but the upward move still appears to be a corrective retrace.