Tuesday Market Commentary - February 28, 2017

Stocks Hold to Sell Near-Term - Update: Bullish sentiment is now at 92%. A contrarian indicator which is at three year high. The major market indexes are now very close to near-term reversals but could continue to grind just a bit higher possibly. The forecast now is for correction pullback of possibly 5% or more that could last one to two months. Shorting at these price levels could be very low-risk high-reward trades.

US Dollar Index Buy Near-Term - Update: The USD index is still forecasted higher to 102.95 to 103.82 or higher near-term. 101.73 is current near-term resistance with 99.565 now as longer-term support. Look for a very possible strong upside momentum breakout now.

Gold Silver Buy Near-Term - Update: Gold was lagging silver recently and has now caught up. The bullish case remains the same for both. 1205 is now current support near-term. The upside forecast for gold is 1300 near-term and 1375.53 and possibly higher further out. $1122.98 still stands as major support long-term support for the bullish case to hold with gold.