SPX Monitoring purposes; Long SPX on 11/11/16 at 2164.45; sold 11/15/16 at 2080.39 = .74% gain.

Monitoring purposes GOLD: Covered on 11/9/19 at 24.59 = gain .07%: Short GDX 11/2/16 at 24.78.

Long Term Trend monitor purposes:  Short SPX on 1/13/16 at 1890.28 

The second window up from the bottom is the Cumulative tick. A bearish sign for the SPX is triggered when the SPX makes higher highs and the cumulative tick makes lower highs. As you can see on the chart above the SPX broke above the September high and the Cumulative tick has made a lower high. The last time such a bearish divergence occurred came the July 2015 high (see chart above). There are talks that the surge in price over the last week is the initiation or a large uptrend, with major divergence in the cumulative tick, it suggest more of a buy climax. With bullish Seasonality into year-end, market may be setting up for a decline in January. 

 Seasonality is bullish tell year end and market could hold up through the holidays. There is evidence market is heading for a top as longer indictors such as the McClellan Summation and stock above 150 day average and the cumulative ticks reinforce that idea.Market can remain buoyant through the holidays. To help signal a top is “in” is for the Total market McClellan Oscillator; NYSE Common stock only McClellan Oscillator and NYSE McClellan Oscillator all close below “0”. Today the tradition McClellan Oscillator closed at +133 and remains on the bullish side for now.

The above chart is the daily GDX.The Up down Volume %/Advance/Decline % ratio is below “1.00” and a short term bearish sign. The bottom window is the Advance/Decline percent which is below “0” and also bearish for short term. Next window up is the Up Down Volume Percent which is also below “0” in a bearish manner. Though the monthly charts suggests a bottom is near the daily chart have not turned bullish yet. The monthly GDX chart does suggest a buy signal could be triggered between the 20.00 to 19.00 level.

We are staying neutral on GDX for now.