Each week I roll through my charts preparing for my Commodities Countdown Webinar. For this week's webinar, I could not be more pulled in different directions.
Which bookshelf should I be staring at? Below we can see The Time Thief, evermore, blue moon, Marked, Betrayed, Chosen, Ink Exchange, The Longing, and Change of Heart. Those titles represent the emotional swings we experienced this week! They make pretty strong Stock Market references for traders being whipsawed daily and weekly.
Then we have the books I've come to rely on in my career. Those all seem to be fighting this sideways market. The $TSX is breaking out to new highs. The US market is making a series of lower highs. The Summation Indexes are breaking down. The Bullish Percent Indexes are positioned for a breakdown. The % of stocks above the 200 DMA are breaking below the levels that usually mark a significant pullback for equities. Commodity charts are ripe for big moves, but the US Dollar Chart looks like they are about to be crushed.