\tSo, let’s get started with stocks…<\/p>\n
\tStocks<\/h2>\n
\tThe bulls are running out of time… again. If the market is going to push into the 2411-2442 zone, then it needs to start moving toward that level right away. Going into next week, the seasonal trends start to turn bearish. So the rest of this week is the best chance the bulls have to push things higher.<\/p>\n
\tThe S&P 500 has support at its 9-day exponential moving average at 2390. If the index breaks decisively below that level, then the momentum shifts bearish. So it’s important the S&P holds above 2390 if it’s going to make a higher move over the next few days.<\/p>\n
\tI still think earnings reports are going to be supportive of a higher market – especially earnings reports in the retail sector, which is already pushing higher from the setup I showed you yesterday<\/a>.<\/p>\n \tBut, I also think any further gains in the broad stock market from here are going to be short-lived. So I’m looking for extremely overbought conditions to give us a few good short-selling setups.<\/p>\n \tThe bottom line is this… stocks look poised to move higher for the rest of this week. But, if the S&P loses support at 2390, then look for a more significant correction to start sooner rather than later.<\/p>\n \tMy minimum target for the S&P is 2411. A strong rally could power the index as high as 2442.<\/p>\n \tGold and silver traded lower yesterday. But mining stocks managed to recover their early losses and close basically unchanged. It’s bullish for the gold sector when mining stocks perform better than the metal. And, while one or two days don’t make a trend, the sector is acting well. Indeed, if you bought a gold stock or two during the weakness yesterday, then you’re probably in a good position today.<\/p>\n \tAnd, when the broad stock market does enter a more significant correction phase, gold stocks should perform well as a defensive trade.<\/p>\n \tI continue to like the idea of buying into the mining sector on any weakness this week.<\/p>\n \tI’ll update Delta Report<\/em> readers on these trends throughout the day on Jeff Clark Direct<\/a><\/em>.<\/p>\n \tBest regards and good trading,<\/p>\n \t \tJeff Clark<\/p>\n \tEditor’s note:<\/strong> Thanks to all of you who've sent questions and comments for Jeff. Please keep your feedback coming right here<\/a>. Today, a handful of praise for Market Minute<\/em>…<\/p>\n \tHello Jeff, I'm working on educating myself to become a better trader, and recently signed up for your daily newsletter – greatly appreciate it. I need to “complete” my education before retirement in a few years and Thank you for sharing the Guide to Option Trading<\/a>. Well written, learned a lot already! \t<\/p>\n \t\t– Richard<\/strong><\/span><\/p>\n<\/blockquote>\n \tI've been a subscriber to your “Market Minute” for a few weeks now. I look forward to receiving it every morning, and I must compliment you on your insight and analysis. Plus, you're teaching me about indicators I never knew existed! Continue with your great work.” \t<\/p>\n \tGold and Gold Stocks<\/h2>\n
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