Hello Everyone,
- Video Format - view on a desktop monitor or large Ipad if possible (Not your phone)
- Standard format with the chart URL's etc
Quick Comments:
First off the trend is strongly up on every time frame, short term, intermediate, and long term.
On a slight warning however, the market is VERY stretched. In fact one in the first image I show below from Real Investment Advice, over the last 17 days the SPX has only had 2 down days - this has nice happened in over 20 years.
Secondly, the both the VIX and VVIX rallied late last week off a potential double bottom. What's more, the VVIX closed over its Vomma 110 line, that's been a great warning signal, that we've been using for the past year.
Furthermore, while November tends to be one of the strongest months for the market (up 2.2% on average), from a seasonality historic standpoint there is generally weakness / consolidation mid month before the typical strong Thanksgiving week rally.
Other than that, gold and precious metals have perked my interest.
Matt