The XOI enjoyed at big 9% up move this past week and the TSX Energy Index gained 6.8% and closed above the 40 week MA. Both are getting close to an intermediate buy signal. We might hit a pocket of resistance this coming week though as the XOI hits both the 40 week and 200 day MA while the TSX Energy Index is at the upper channel of its bull channel. [read more...]

Oil prices burst through to new highs reaching almost to $59 and close to our next targets at $60 and also a possible move to $63. Natural Gas had a huge up week jumping 21.5% rising to $4.31 as we burst through resistance. Oil prices have trendline resistance at $63 while NG has trendline resistance at $4.75. NG is also at the 100 day MA so we might hit a bit of turbulence here and wish to correct back the swift up move of the past week. [read more...]

Both the HUI and the TSX Gold Index enjoyed a strong up week with the HUI gaining almost 14% and closing at new highs for the move up. This is bullish going forward. On the other hand while the TSX Gold Index gained 8.6% closing at 300 it is well off its highs at 353. Could the HUI be leading the way? Appears that way but follow through this week is important. [read more...]

Gold jumped nearly $27 and Silver rose $1.45 this past week as they reversed the recent slide. Indicators were turning back up. Silver has given us an interesting new buy as the weekly MACD is doing our kiss and hopefully run. The weekly MACD for silver did not see the Fast MACD cross the slow MACD. For Gold it did but if we turn back up again it will be a clear sign that a bigger move is about to get underway. [read more...]

By comparison the Cdn Bond market is actually hanging in but it still didn’t stop them from following the US bonds downward this past week. The Cdn 10 year bond futures found support at the 40 week MA but a crash through that level would signal lower prices ahead. If investors are wise though they are out of long bonds are now in only short bonds or money market. [read more...]

The bond breakdown continues. We can only guess that the thought of all that supply to come coupled with possibly iffy buying from the traditional sources such as Asia has seen bonds get a serious case of the heeby jeebys. Targets are down to 115 and the uptrend line from the June 2007 lows. It is clear that the current two year cycle (or could be a three year cycle) has topped weeks ago and now it is a question of when we get the bottom. [read more...]

The S&P 500 jumped almost 6% this past week and is now fast approaching the 40 week MA. Ideally a pause would be good here and despite the fact that the weekly indicators have room to move higher the daily indicators are somewhat overbought. We have now taken out the January highs and we are only 70 points off of our targets of 1000 with a range possibly up to 1050. So this is another sign that we are getting deep into our rally and towards … [read more...]

The TSX jumped nearly 5% this past week as we approached highs last seen in October 2008. This has predictably brought out a wave of bullish euphoria. The TSX is now up 31% from the lows seen in early March. All subsectors were up this past week except for Healthcare and Information Technology. The former remains one of the more moribund areas. Info Tech triggered an intermediate buy signal the previous week and the slight down week did not change that signal. Indeed more intermediate buy signals were … [read more...]