Commodities Update

for members

“I know I’ve been posting a lot this month on the commodities sector as they have been showing some important weakness that could very well lead to a deflationary event. Most are showing some rather large H&S topping patterns that are currently breaking down below their necklines which is setting the stage for a large decline. Big patterns lead to big moves.

With the US stock markets looking a bit vulnerable right here in regards to their December 2018 rising wedges the pieces of the puzzle seem to be coming together for an important decline across most asset classes. So far the PM complex has been trading in its own little world bucking the herd. The big question remains, will they continue to move higher if the rest of the important asset classes decline?

At the end of this Weekend Report I have a few charts which are getting close to showing a possible sell signal for the US stock markets. Since these are long term buy and sell signals on a monthly closing basis this last week of trading is going to be very important on how the month of August closes out. We’ll know in five more days.”

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