Chart Thoughts

GDX: Trend lines seem to point to the same price point...coincidence?
Observe the MASSIVE divergence on stochastics from Feb to present...sustainable?
The same for the MACD severe overbought condition.

Are these the conditions to be taking new BUY or SELL actions for GDX?

GLD: IF GLD decisively breaks out of the upper channel, I'll be a Gold BULL but no decisive break of this upper channel line has happened since June 2013! Also, the circle highlighted stochastics that clearly show present and past overbought conditions....were these when you BUY or SELL gold? Keeping it SIMPLE usually brings you closer to following the trend...which is smarter.

I'm not saying Gann lines or fans or whatever don't work but sometimes I see charts with so many lines it's chaotic. Keeping it simple for me works best.

Next week's COT data might show a nose bleeding increase in the level of commercial shorts in Gold.

Here is SPX....daily Stochastics are at 99.93....sustainable? Note the circled stochastics at overbought levels. Were those BUY or SELL times?

Note also, the retrace is almost exactly at the 0.618 golden ratio. If EW counters call this Wave 2; it's quite beautiful on the retrace as most Wave 2 retrace .5 to .618 about 70% of times. Even if it's not Wave 2...a correction is coming.

So, when you see a correction on the SPX is due, consider looking at the VIX. Below is the UVXY chart. It's trend lines are clearly a megaphone pattern. The bottom trend line support still holds.

The Stochastics are at 0.8 !!!! That is NOT susatinable!

Note the circled stochastic oversold regions....were these BUY or SELL indicators for UVXY?

Some say analyzing the ETF of VIX or a leveraged ETF is not fruitful. So, below is the VIX chart.

Observe the support line which still holds and the megaphone pattern.

Observe also that the daily stochastics is at 1.8 !!! Not sustainable.

The circled areas of the stochastics....were those BUY or SELL vix indicators?

Last but not least, the McClellan Oscillator is a whopping 332.15 !!!! NUTS!
Is this when you go LONG the SPX? Or, do you SELL your Long SPX positions and go SHORT?
At this Mc OSc levels, even if I was on hallucinogenics, I couldn't buy SPX.