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Watch if S&P bounce attempt back above 2038 FAILS- Bias to sell S&P, Buy Gold stocks

S&P down to levels hit an hour ago, but increasing amounts of weakness with Healthcare still leading the charge to the downside and Discretionary also lower-    UNDER 2038 in S&P futures likely coincides with weakness into the close where the market could witness a selloff down to test and break 2028 which would lead to carrythrough on Monday-

Avoid buying under 2038 in SP, which should lead down at least another 10 points

Avoid buying under 2038 in SP, which should lead down at least another 10 points

Gold meanwhile has begun to lift again after some lengthy consolidation in the last month and more importantly, GDX, the GOLD MINERS ETF, has broken back out above prior highs, which should allow for additional strength in Precious metals stocks in the weeks ahead.

Here is a link of an interview i did yesterday with BNN out of Canada, talking technicals and market volatility   http://www.bnn.ca/Video/player.aspx?vid=844875

And a link to my story on REAL MONEY about Gold turning higher an ways to profit-  http://realmoney.thestreet.com/articles/03/17/2016/gold-and-metal-mob-are-back-town

 

GDX breaking out above last months highs, should allow for steady upward progress

GDX breaking out above last months highs, should allow for steady upward progress