Bullish Volume Flows
Extremely heavy positive volume in the 3X ETFs, such as NUGT, JNUG, LABU and ERX, have been quite predictive of intermediate cycle lows and bullish trending moves that follow. The S&P 500 has made a breakout to new highs but it is possible that this move was manufactured by big money to escape their long positions.
BOTTOMS ARE NEVER EASY IN THE METALS, THEY USUALLY CHURN FOR A WHILE KNOCKING EVERYONE OFF BEFORE THEY FINALLY MAKE UPWARD HEADWAY. UNLIKE THE STOCK MARKET WHICH ROCKETS OUT OF CYCLE LOWS.