Charts Of The Day: SPX, Gold, Oil, Silver, JPY
Gary Savage | Sep 07, 2015 12:24AM ET
S&P 500 stocks are now trading below the 200DMA and the 200 has turned down. Even under the most optimistic circumstances, it's going to take months to recover. Gold, on the other hand, is ready to attach the 200DMA from below, and the 200 is starting to flatten. Could we be seeing a turn back up?
Oil has probably formed its 3-year cycle low. It's now likely to test the 200DMA and an eventual recovery above it is imminent. Silver has kissed the 200DMA multiple times and I expect a violent surge above it soon.`
I think the bear market in the yen is over for now and commodities will begin to rise along with it.
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