Ending The Year With A Whimper

Lots of chop for markets as we wound down a so-so year.

Setups are forming and traders will return this coming week.  Consequently, volume will pick back up. And if all goes well, leading stocks will begin to breakout higher with markets following as this bull market continues on.

The metals continue to act poorly -- and do not yet look to have put in their major lows. However, they are getting closer to major support.

We’ve done well over the past three months nailing the waves up and down doing swing trading, since that’s all that Mr. Market has given us. Hopefully, 2016 will give us a more sustained move, but we just have to wait and see about that. Either way, we will be making some money, it’s just a matter of how active we have to be to do so.

Gold lost 1.42% in the last week of 2015…and remains in its range. $1,080 remains a major resistance level with $1,060 and $1,050 acting as support for now.

The $1,000 level is the major, major support level that must be tested before we can consider a major low being in place.

Therefore, gold kicks off 2016 with the same bearish tone it demonstrated through all of 2015.

Silver lost 3.86% and seems to be wanting to lead the charge lower. However, we did just see silver try to lead gold lower.  But it has not been acting right…so it’s hard to have faith in this present attempt.

If silver breaks $13.75, then we should get some nice acceleration to the downside. Nonetheless, gold does need to be moving lower as well or chances are the move lower isn’t quite ripe to go.

Platinum gained 1.03%...but is now right at a solid resistance level at $900 with support below at $860.

We will get a much better feel for things once volume/traders return next week.  I always take it easy when markets are not setup…consequently, it was nice to have that happen over recent holidays.

Palladium rose 0.49% last week…and is also now up at resistance. As always platinum and palladium follow silver and gold…consequently, we watch them for clues.

I do not plan on trading the metals until they become the leading sector at some point in time.

There is always a place where the money is going and I identify those areas, and trade the best stocks and chart setups within those groups.

The trading game is about making money, not being right or righteous in views. Nonetheless, many gold bugs cannot get over that fact and continually lose money.

2015 was ok, but 2016 could be a much better and easier year to make money.  Please consider joining  me in my real-time trading endeavours and get alerts every-time I make a buy or sell decision http://wizzentrading.com/?page_id=5614

Thank you very much for reading. You can find out more about what I do for members as we focus on leading stocks for the most part at http://wizzentrading.com

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