SPX Monitoring Purposes: Sold 6/21/21 at 4224.70= gain 1.40%; Long SPX on 6/18/21 at 4166.45.
Monitoring Purposes GOLD: Long GDX on 10/9/20 at 40.78.
Long Term SPX Monitor Purposes: Sold long SPX on 1/15/21 at 3768.25= gain 10.80%; Long SPX on 10/26/20 at 3400.97.
Yesterday we said, "The SPX was down four days in a row going into Friday and the statistics show the market will be lower within five days 67% of the time. This condition suggests Friday's low will at least be tested in the next five days." Added to that, today's volume was lighter than yesterday's volume, which shows upside energy is weakening. Today's high tested last Wednesday's high on lighter volume, which suggests resistance. SPY gapped up yesterday and that gap remains open; the market may attempt to test that gap in the coming days. The bigger trend is up, but we could see a short term pullback before the market heads higher. Back to neutral for now. Sold 6/21/21 at 4224.70= gain 1.40; Long SPX on 6/18/21 at 4166.45.
The top window is the NYSE McClellan Summation index. Large declines in the NYSE can occur when the Summation index falls below "0". The chart above goes back to mid-2014. We used red arrows to point out the times when the NYSE McClellan Summation index fell below 0. Readings above +500 point to a relative strong market; current reading is +744. Can do some "backing and filling" short-term but, eventually, the market will move higher, most likely in July.
Yesterday, we showed the monthly HUI, which is in an uptrend. The above is the weekly XAU (going back to 1984), without a price chart but with moving averages of 12, 21, 34, 55. 89, 144 and 300 shown. The blue arrows show when these moving averages crossed to the upside and the red arrows show when these moving averages crossed to the downside. A bullish crossover occurred in January 2020 and remains in force. Momentum rules all indicators and these moving averages are momentum indicators.