Last night I said the p.m. stocks looked like they should follow through, so far that's the case

GDX - Chart Link - 60 min GDX, broke out of the channel, remember it had a nice MACD divergence

GDX - Chart Link - same for the 120 min

AEM - Chart Link - here's some of the individual's I discussed on the weekend and last night

PAAS - Chart Link

SAND - Chart Link 

HMY - Chart Link - was lower risk off the 50 MA and that doji

 News Bot: Saudi oil output will return to normal levels quicker than initially assumed, two sources report; top saudi source says Saudi output will be back online fully in next two-to-three weeks; Saudi close to restoring 70% of the 5.7mln BPD output loss

$SPX - Chart Link - been the strongest lately

SOLY gap and go today on open

ES Overnight Range 2993.75-3007

what's nice is on the 120 min SPX the fast response BPT MA Deluxe is back red, so if it can turn green again we will get a new higher low stop

Here's Monday's Newsletter

Has a MA ribbon pinch here in bearish config. If one was short here your stop would go at 3007 the last high

USTR Robert Lighthizer tells business executives there is still much work to be done in order to reach a trade agreement with China, according to Politico

Blackstone in talks to buy Bellagio and MGM Grand, Bloomberg reports Blackstone Group (BX) is in advanced talks to buy and lease back the Bellagio and MGM Grand Las Vegas casinos fromMGM Resorts International (MGM), Bloomberg reports

AMPY - Chart Link - basing idea from last Monday, up nicely today. The ones off the bottom were lower risk

ECA - Chart Link - obvious follow on this long idea from early last week with what's going on in the oil market

nice spot morton on that MA ribbon!

intra day price simply bouncing from cycle supports to cycle resistance

ICPT - Chart Link

BB - Chart Link

ES Overnight 2983.50-3000.75 (December Contract)

Here's a link to this weekend's newsletter.

Also would be better for the precious metals market to see the commercial net short come down lower and the large speculators  position. While it has dipped some now it's still very elevated

remember the gold stuff could still put in a lower high i.e. wave B then another consolidation wave C.  Short term gold, GDX, etc had a small abc down and 60 min MACD divergence so were all set to bounce anyway. However is that an abc down of A? 

again all the pm stuff was technically set to bounce, just not sure it's ready to roar straight to new highs, but I am looking for an up move regardless had the Saudi news came out or not.

however for 'gold bugs' who may have sold out of all or most of their positions near the divergent highs, this could be an area to start scaling back in some i.e. 1/3 etc.  You don't have to try to pick the exact bottom. again depends on your style