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However, technical patterns show that gold could see a minor rally here.
But the indicators will have to change for me to believe there will be more than a short-term rally at this point.
We're hunting for when the number of stocks making new lows contracts and on Tuesday we saw a minor contraction.
I don't have the answer whether or not Turkey's situation will end up in a contagion.
A rally Monday followed by a renewed decline later in the week would send us toward an oversold reading.
The market needs to get properly oversold in order to have a rally that has momentum and we haven't gotten properly oversold.
I think the market should pull back.
Sentinment index for VIX remains very low for second day, boosting odds of a surge soon.


| Aug 07, 2018
| 8:30 AM EDT
Back in early July I said I thought EEM should rally to 45 and it did but it has now backed off. I was asked i...
Sentiment indicators suggest stocks may be heading for a slide later this week.


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