Hello MarketClub members, well here we are at the beginning of a new trading week with lots going on. Somehow I don't think we are going to be seeing the dog days of summer in 2016. Last Friday the major indices resumed their upward journey and the continuation pattern I discussed in my previous video. I continue to think that the equity markets can go higher, a lot higher based on the Trade Triangles and the technical formation on the charts. I can see the DOW (INDEX:DJI) moving over the 20,000 mark in the next several months. The markets could get another boost today as one of the presidential hopefuls is going to propose the biggest tax cuts we have ever seen in modern times. Last week I discussed and analyzed Kinder Morgan Inc. (NYSE:KMI), that stock is up over 1% in early morning trading. That move is reflective of the movement in crude oil (NYMEX:CL.U16.E) today and the generally friendly tone towards the equity markets. I'm looking for Kinder Morgan to continue moving higher. Gold (FOREX:XAUUSDO) on the other hand, which took a drubbing Friday because of the jobs report is down about half a percent this morning and is generally looking for a direction to move in. One of the great questions I had last week was how can gold and the equity markets move in the same direction? What's fascinating is that over the years I have been able to observe markets that move in lockstep and then all of a sudden for reasons beyond anyone's imagination they suddenly decouple and move independently. That may be what has just happened to gold and equity markets. Having said that, I still like the gold-mining shares which remain in a positive trend. The pullback on Friday pushed both Newmont Mining (NYSE:NEM) and Barrick Gold Corporation (NYSE:ABX)back to areas where they should find good support. This should be a very interesting week for gold, crude oil and of course, the equity markets so stay tuned and check out today's video update.
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