Gold and silver faltered this past week as the US$ jumped.

S&P 500 STRATEGY: STAND ASIDE (for definitions of terms see end of report)

• The S&P 500 rose for the third consecutive week up about 6.2% on the week.
• We spiked into resistance of the 13 week MA near 844 and our first initial target of 840.
• We have also run into resistance of the 100 day MA at 838.
• We are positive as long as we stay above … [ read more ]

TSX INDICES

The TSX continued its recent string of gains for the third consecutive week with another 3.7% gain. Still the end of the week saw a sell off that left the index under its opening levels of the week leaving a slight negative tinge to the gains of the week. This may be signaling a pause in the recent rebound rally. 11 of 14 sub indices finished up on the week with the only downs coming from Healthcare, Golds and Utilities. The fall in the Golds appears to be a correction within … [ read more ]

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• G20 meets this week in London and it could be a riotous affair.
• Will non-farm payrolls be down over 600 thousand again.
• Gold and silver faltered this past week as the US$ jumped.
• Could Gold and silver be poised for another corrective down move?
• Oil rising but natural gas quickly fell back to new lows. Energy stocks at resistance.

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