The VR METALS/RESOURCE Letter provides subscribers his unique insights, opinions and education on the following market sectors: METALS (Gold, Silver, Copper, Palladium and Platinum) and all Natural Resource investments including ENERGY (Crude Oil, Natural Gas. Green/Solar energy and materials), Cyclical (Annual Forecast Model) analysis and technical analysis are utilized. Huge opportunities may lay ahead for all natural resource plays and the VR METALS/RESOURCE Letter will be on top of them regardless of which direction they move!
The market is open for a full day tomorrow, which brings New Years Eve.
The stock market will be closed on Wednesday, January 1 for New Years holiday.
The stock market will be closed all day on Thursday, January 9 for President Jimmy Carter’s funeral.
The stock market will be closed on Monday, January 20 for MLK day.
President Carter died at 100 years old. One out of three people live to 90 years old. I don’t have stats for later than 90.
The S&P 500 was down more than one percent today and Friday. This was the first time the S&P 500 was down more than one percent, for two consecutive days, since 1952.
From a technical pattern, on an hourly chart looks like this down move from December 26, is carving out a five wave pattern lower. “IF” this is the case, the S&P 500 should go below the lows of December 20. After that, we have to take the market as it comes. After the bottom is in place, there could be one more rally after that.
Tomorrow is turnaround Tuesday, but we will know in the fullness of time if we do get a rally within the context of moving lower. Stay tuned.
AIQ gave a 96 down signal again tonight on the Nasdaq Composite and the 10, 49 exponential Price Oscillator continues moving lower so the trend is lower. There are no indications of a bottom yet.
Vector Vest MTI is at 0.69 and below 1.0 trend is down. Bottoms typically happen between 0.5 and 0.6 for the MTI. Today, the Vector Vest short term timing system went back on a sell signal.
There was heavy selling in the after hours.
The Nasdaq Composite is down 4.3% from the recent peak.
Bitcoin continues moving lower. At some point, bitcoin will move higher, but hasn’t happened yet.
Bonds, TLT is giving some early indications of a low is coming soon, but it isn’t here yet.
Energy complex is getting some accumulation. UNG is the strongest of the group. We are in for a cold spell so this is helping the move higher in UNG. USO and UCO could move a little higher. LNG as an energy stock has been slowly moving higher. OXY has been moving higher. Warren Buffet’s stake in OXY is up to 28% of the company now. We will know in hte fullness of time whether the final low is in place for energy stocks.
Uranium stocks and ETF’s have been under distribution for now. Longer term, the outlook is good for this green energy.
FCX has been quietly moving lower and is at 38.16. At some point, this will move higher as well. The future was good until EV sales started slowing. Two stocks that are heavily involved in rebuilding the Electrical Grid are PWR and GEV.
There are a lot of cross currents in the waters as there are only twelve more trading days before Donald Trump inauguration on January 20. Will be interesting to see how much drama and chaos can be initiated by those that don’t want Trump in office.
https://www.howestreet.com/
COME ON, DAD. IT’S TIME TO EAT
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