Broad market update: Deleveraging
Updated
I think we might be about to see deleveraging in the market, judging by the action in the yen, together with Gold rising on falling 
VIX, while 
SPX peaks, but fails to advance further after VIX fell slightly. I suspect mid term election woes plus all the barrage of bad news related to trade wars and other topics might push investors into cash. Personally I've sold all my holdings except for my positions in gold and 
TSLA, and will look into rebuying once a bottom is clearly spotted in the broad market.
For now, I will focus on determining if this thesis is correct, and if so, look into maximizing my gains in the gold rally that might emerge from here.
Gold hit a monthly support level, got oversold, whilst being in a monthly uptrend and flashed a huge buy signal from the Commitment of traders report data, whilst the daily trend ended, forming a potential reversal setup. Risk/reward is optimal on the long side now. I will scale into the trend as we get more and more confirmation and other trend continuation signals later on. Targets for it are as high as 1550, if we confirm a monthly TM signal eventually.
Cheers,
Ivan Labrie.
VIX, while SPX peaks, but fails to advance further after VIX fell slightly. I suspect mid term election woes plus all the barrage of bad news related to trade wars and other topics might push investors into cash. Personally I've sold all my holdings except for my positions in gold and TSLA, and will look into rebuying once a bottom is clearly spotted in the broad market.For now, I will focus on determining if this thesis is correct, and if so, look into maximizing my gains in the gold rally that might emerge from here.
Gold hit a monthly support level, got oversold, whilst being in a monthly uptrend and flashed a huge buy signal from the Commitment of traders report data, whilst the daily trend ended, forming a potential reversal setup. Risk/reward is optimal on the long side now. I will scale into the trend as we get more and more confirmation and other trend continuation signals later on. Targets for it are as high as 1550, if we confirm a monthly TM signal eventually.
Cheers,
Ivan Labrie.
Note
Our long gold and 
PAAS positions look good:Note
Note
Oil looks ready to drop from here, would make the situation with equities worse possibly, in the short term at least. Both stocks and
USOIL look toppy.Note
Positions look good overall. We continue to hold our golf and silver exposure.
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