Market Comment - Technicals

We are at an important market crossroads. Gold is pushing powerful resistance. Oil has teased above its all time high and fallen back. The S&P 500 Index recently challenged its 2001 all-time high. The U.S. thirty-year Treasury Bond yield has challenged longstanding downtrending resistance and failed.

At the opposite extreme, the U.S. dollar is methodically approaching an historic low support level established back in 1992.

I’m looking for hard-fought intermediate term reversals in all cases. That’s the QUIET outcome. If I’m wrong about this, and we push through these technical barriers in a meaningful way, all HELL will break loose. We will be in an entirely new and uncharted ballgame.