Our report tonight will be brief as nothing note worthy has changed from the weekend report. On Tuesday we have the last trading day of the month. It may usher in a bout of weakness for equities.
The stock market is again testing a breakout of its recent down trend line. It may not break through tomorrow being the end of the month. A sustained break through of this level is needed for the rebound to gain traction. We do expect this to occur in the days ahead. Violent market swings are to be expected as this bottoming process continues
Nothing has changed with gold. We still expect a cycle trough to occur April 10-13. Junior miners are often a signal for golds future direction. We see from the chart above the 10 day moving average can’t hold in the juniors. We don’t expect a tradable rally to emerge in gold until mid April - patience is required.
Oil may bottom at 10$ a barrel before it's all said and done over the next 60 days. At some point a trade will emerge on the long side, until then patience.