Friday was very quiet so there isn’t much to say on any front really. That said, a few of our mining positions had three days with very tight closes which suggests a big move higher coming Monday.

Let’s see if that setup in the charts comes true Monday or not.

MSFT and FB are into new highs which is positive but if those levels don’t hold then it’s just a one day wonder type of move which is negative for stocks in general.

So far this earnings season we’ve seen some leading stocks show one day wonder moves while others are showing good strength which means there is really no general consensus or trend to rely on yet.

Not much to say about SPY really but they do say never short a dull market and this one is quite dull at the moment. That said, the large head and shoulders topping pattern is something to watch closely.