99 Problems

Every time you look at the market, price action is worse and worse. Record Inflows and momentum algorithms are the basically all that has kept the indices afloat as the market has gotten weaker with time

Advance-Decline line breadth represents it pretty well

That damage is nothing compared to what it can be. The market has been an all you can eat buffet and investors are the Klumps. Just eating and eating and eating without a care in the world.

Some groups like materials are still an uptrend, but it just gets weaker as all the excessive eating slows it down

And some groups like Semiconductors continue to trade in distribution mode

GOLD

People LOVE to talk about how poorly gold has acted. Fun facts: it’s up 50% in 3.5 years. It’s just 13% off the 2020 high. For a market full of obsessed lunatics, that’s FANTASTIC relative to the others.

Gold vs the S&P 500 gives asset allocators something to think about.

War

War? In a mid term election year when the party in power is on the ropes? Sur-prise Surprise. Various defense names are at an important area. Here’s LMT with these gaps and resistance ~180 in play.

And NOC

But Israeli name ESLT is the best in the book

Oil

Of course you can’t talk war without talking oil. It would be nice if this prior high area is anything more than a speed bump.

HOWEVER, it’s hard to look at the Exxon Mobil Chart and think oil is going to do anything than persist higher over time.

Trade ‘em well