MOMO and FLOW update: ....follow through bext week ?

Inst. Porfolio could bounce early next week into the 1st of March but still has some work on the downside to be done.

Can the PrecMetal develop divergences ?
Banks are extended.
Oil could be exhausted here ...OR...develop divergences while shooting higher.

OptionFlows update

Overall the Market is still extended:

Banks could become an interesting tell next week...
Materials = Stuff look extended:
Oil frenzy:
Silver Frenzy: Key question will be whether the PrcMetals can develop Divergences while shooting higher...

Tech looks mixed at best:

Golden5: Sentiment: PHASE 1 has been launched...

Phase 1 has been launched and we should see after some retesting Phase 2 (Follow Through!!).

Alternative Case: Mr Market breaks up, breaks the neg. Divergences and triggers a buying panic !!

OptionFlows

MOMO and Flow update

Have we seen the Low for the year in Gold ??

Breadth in the MINING SPACE

The jury is still out whether we need to see more of a correction or sideways consolidation before the next move.

To be watched!!

Golden5: Breadth quality continues to tumble

Our leading Indicator correlates nicely with Mr. Markets, ie it reacts to BREADTH changes. Since QE2 the market seems to ignore Breadth.

This is a gage of skyrocketing speculation!!

Institutional Portfolio:
Lg. Cap Tech:

Golden5: Sentiment update

The rubberband continues to stretch and stretch.....

Pls notice that the pace of the deterioration is accelerating!

Option Fever in SILVER

This graph is EOD Wednesday, ie bfore the big Breakout yesterday and shows that the SILVER feever can run into mid next week.

See the excessive CALL buying ! => expect some (sharp) subsequent consolidation/ correction

MOMO and Flow update

The Market looks very extended and tired.

The same on the Tech side.
Gold on the other side could see some good medium term upside action.

OptionFlows into the FEB OPEX

As we said last week, we could see some solid action in the Feb 20+ zone which means the PLAYAS will zoom the market through the Feb OPEX before taking some profits.

Gold & Silver look prone for some backing and filling the next weeks, digesting the steep bounce out of 1310 (GOLD) back in the 1350-60 area.

Golden5: Breadth - MONSTER2

The Bull (Highs) get weaker and weaker in TECH....

...and in the INSTITUTIONAL Portfolio.

Golden5: Sentiment: What a monster Divergence....!

What a MONSTER. How much longer can it go, how many more rounds can it fly...we don't know, but we do know that the rubberband is stretching and stretching.

Think REFLEXIVITY here, meaning the higher it goes the deeper it has to fall!

Exhaustion Watch

Conclusions:

• Energy & Materials look bearish
• Banks & Russel 2000 look prone for a turn
• China Bears & Gold has already gained bullish ground with their Weekly bull. Pivots
• Tech has already lost bullish ground with their Weekly bear Pivots (bull pivot in the Tech Bear ETF)
• 20yr TSY & Corp. Bonds look bullish

The Retesting Phase

This is a follow up post to our ANATOMY of a TOP post on Jan23:

MOMO and FLOW update