Tuesday, January 31, 2017

Ponzo Udates..01.31.17

It was turnaround Tuesday for the markets although bonds surged early on and held strong through the close. Silver and gold are on a tear as the dollar slumps and the odds of a FED hike tomorrow are LOW. The VIX has begun a slide back to the 11's and odds are for the bulls for the next 2 days.
SPY momentum looks bullish.
Apple beat and is up after hours,continuing the theme of most of the big techs (not Qualcomm).
The Ponzo forecasts have diverged only marginally over the past month as we move onto February, typically the worst month in election years....the reasons for which are more than I have time for.
We'll just monitor the news, ignore the talking heads and watch the only metric that matters...price.