When the Walls Come Tumbling Down

 Maybe the three trend lines (orange, blue and yellow) converging here will be enough to put a temporary halt to the dollar's slide.

If trend lines aren't enough, Bollinger Bands are at their downside limits, as well.

 Twenty year time frames, the Indoos and the US dollar. Has the dollar bottomed and the market topped? The trillion dollar question. Stay tuned.

Trade 'til May?

If new highs are the precursor to new highs, the Spiders, gold and silver, theoretically, at least, have more upside.

SPY

 The markets may need a rest, however, when examining the Bollinger Bands. The candles have broken outside the top band and are dangerously over-extended. That said, silver has been pushing the upper limits of the band since February, and there's only been one minor retreat, back to the Bollinger Band's mid-point.

SILVER

 Gold, too, is over-extended, but seems to have found some harmoney within the Bollinger Band's confines leading up to its latest run.

GOLD

Gold Miners

Silver Miners

The way the markets trade these days, it is not uncommon to see most things hit a top or bottom around the same time. And while the indices and precious metals could definitely use a breather, there are no guarantees that will happen any time soon.

The markets have been anything but kind to those in search of a top. Just think, though ..... with April over and done with, and Bollinger Bands being pierced, the "Trade 'til May then go away," crowd is right around the corner.

Always perform your own due diligence. These are only my opinions.

A Big Difference

 Horizons BetaPro Global Gold Plus ETF has performed terribly at times vs the US GDX, particularly when examining the four year, three year, and one year time frames.  

 Click on chart(s) to expand

 Not taken into account in the above chart is currency differential, but at HGU's peak, the Canadian Dollar was trading roughly where it is sitting today.

 If three years ago you had invested $10,000 into HGU.TO on a buy-and-hold basis, what would it be worth today? It's not pretty.

Now, let's compare HGU.TO to an "ordinary" TD precious metal mutual fund over the same three years:

A gain of $6,400 for TD vs a loss of $2,050 with HGU.

To be fair, HGU has out-performed the TD Fund from the lows the two printed in 2008; nevertheless, any potential pullbacks in PM shares will likely see HGU hit harder than the average PM mutual fund.

ETF's have their place, but they've been designed for momentum traders. Without velocity behind these double ETF's, they simply don't perform efficiently nor effectively. It's all there in Horizon's company prospectus, by the way. They aren't out to mislead anyone; unfortunately, most people don't read a prospectus nor research the pros and cons of juiced ETF's.

Always perform your own due diligence. These are only my opinions.

Spiders on Target

 The first of three potential targets on the SPY mentioned here a few days back  as well as here  in January, was finally hit and surpassed by four cents just before today's close. Now we'll see what this market is made of. If we don't pull back with any emphasis over the next day, we may see further upside, but it's not a bad opportunity to try shorting here with a tight stop. This could be "the elusive top" everyone has been waiting for, after all.

**Update** While a short here is tempting, the overnight futures market is showing no signs of weakness. Caution is necessary.

Always perform your own due diligence. These are only my opinions.

Does the Buck Stop Here?

 It doesn't look like it. A market reversal will help the dollar, but until that happens, don't bank on a bottom.

 

Left cick on chart to expand

Always perform your own due diligence. These are only my opinions.