S&P Bear or Bull?

Is the S&P in bear or bull mode?  Hard to say, as all we’ve really seen is sideways action with a fairly tight range. The next strong move likely depends on which way this congestion is resolved: a downward break and we enter a bear run.  An upward break, and the bulls roam again.

It’s been hard to hold anything oil related, and (NYSE:XOM) is no exception.  But given that oil is down nearly 60% since last summer, the stock has held up pretty well.  I like to buy on strength with this one, so wait for an upward break before pouncing.

Continue Reading Below

I’ve never been a big gold fan, but I do think it’s a place to be if the world suddenly panics.  Is the chart below signaling that’s imminent?  Maybe, and a close above the downtrend line would get me long.

Back next week to see if the young guys (Wilson, Luck) but beat the old guys (Brady, Rodgers).