They Slide Faster Than They Glide!

s you have heard me say many times before... They slide faster than they glide! This is true in the futures markets, the metals, currency and of course, the equity markets. Yesterday we saw the S&P 500 close dramatically below its 200 day moving average. We also had a sell signal on our Monthly Trade Triangle indicator. Today we saw the S&P 500 index break below the recent lows seen in March of this year. The S&P is now lower for the year and looks like it wants to go lower.

Metals on the other hand rose dramatically as everyone jumped at the same market at the same time. Gold traded to new highs, with silver lagging behind. These are volatile times in the markets and perhaps we've seen the thrust of the first wave today.

With the apparent slowdown in the economy reflected by the equity markets, the CRB index and crude oil were pushed to the downside.