Is Gold cheap? No. Can it continue higher from here? Yes. Is it susceptible to a dramatic cliff dive? In the current environment of worldwide sovereign debt, I would be surprised to see that happen any time soon. In reality, however, only time will tell. more »

Except for the fractional gain of 0.23% for the Nikkei 225, all of the major world markets in this series lost ground over the week ending June 10. The Hang Seng suffered the largest decline, down 2.31%, with the S&P close behind at -2.24%. The FTSE, last week's sole gainer, finished this week down 1.52%. The DAX, Shanghai Composite and BSE SENSEX kept their losses to a fractional percent: -0.55%, -0.59% and -0.84%, respectively. more »

The Shanghai composite index closed sharply lower this week, confirming the break below support at the lower boundary of the symmetrical triangle that we noted earlier this week. more »

The stock market has been moving relentlessly higher. The rally is now 26 months old and cyclical uptrends that take place during a secular bear market have an average duration of 33 months, so a long-term top could form this year. The divergences in price behavior that have developed between stock markets around the world are warnings signs that warrant close monitoring as the current bull market matures. more »

S&P 500 index closed moderately lower this week, moving below support at the lower boundary of the cyclical uptrend and beginning a test of new congestion support in the 1,300 area. more »