The various V-shaped bounces that equities and commodities have seen since 2009 off of corrections have done an excellent job of rewarding steadfast bulls, while punishing bears. Make you sure check out this post that I wrote back in February on the issue. Despite the weakness today, many areas of the market have yet to suffer any kind of significant damage.
However, it is tough to deny the vendetta the bears are waging against those complacent V-shaped buyers in silver and energy. What we have here on their respective daily charts are a couple of textbook bear flag breakdowns. On the whole, I am still leaning towards more of a multi-month consolidation in energy and materials, as opposed to calling for a bear market. With that said, I do not see much reason to get involved with either of those sectors right now in either direction for swing trades.
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The easy money has been made this year. The rest of the year will be a chop fest. Nearly impossible to make any money as the market goes up for a day or 2 then down for a day or 2 for months.