Available Mon- Friday after 6:00 P.M. Eastern, 3:00 Pacific.

DOW                                               + 14 on 1,100 net declines

NASDAQ COMP                                + 9 on 1,050 net declines

SHORT TERM TREND                        Bullish  

INTERMEDIATE TERM TREND            Bullish

STOCKS: The averages were higher on Monday. Better than expected earnings reports and a receding crisis with Greece got the credit.

But, for the second session in a row, the markets rallied on poor internals. This normally is not a good sign, especially when you consider that the S&P 500 is at a resistance zone. See the chart below.

GOLD:  Gold was clobbered for $35. Rumors about Chinese bank selling. Greenback up again.    

NEXT DAY: Tuesday. No prediction

CHART:  The S&P 500 is fast approaching the peak of mid may, but the advance decline line is nowhere close (arrows). Also, the last two days have been atrocious. This doesn’t guarantee a decline, especially since earnings have been pretty good, but it makes us want to take profits on our trading profits.

BOTTOM LINE:  (Trading)

Our intermediate term system is on a buy. We are long the SPY from  206.42. If there are more declines than advances at 3:45 EST, sell at the close.

   System 7   We sold the SSO at 68.66 for a gain of 2.96. Stay in cash on Tuesday.                           

   System 8   We are in cash. Stay there.                    

GOLD  We are in cash. Stay there.     

News and fundamentals:  There were no important economic releases on Monday and there will be none on Tuesday.

Interesting Stuff  Gold and silver keep getting clobbered. Gold has been declining for 4 years. Silver even more. But, we still see TV advertisements urging people to buy gold and silver. When these ads stop, perhaps we’ll get a bottom.

TORONTO EXCHAN GE:   Toronto got clobbered for 217 points.     

S&P/TSX VENTURE COMP: The TSX dropped 12.       

BONDS:  Bonds fell back slightly.                                                        

THE REST:  The dollar keeps moving higher. Silver  and crude oil were whacked pretty hard.              

We’re on a buy for bonds as of June 11.                      

We’re on a buy for the dollar and a sell for the euro as of July 16.                         

We’re on a sell for gold as of  July 2.                         

We’re on a sell for silver as of June 23.                        

We’re on a sell for crude oil as of July 16.                             

We’re on a sell for the Toronto Stock Exchange as of May 6.    

We’re on a sell for the S&P\TSX Venture Fund as of October 30, 2014.    

We are on a long term buy signal for the markets of the U.S., Canada, Britain, Germany and France.