Monday Market Commentary - February 13, 2017

Stocks Hold Near-Term - The major market indexes continued higher last week against my downside forecast. The forecast near-term is higher, but very close to a very possible reversal near-term short-term downside correction. Going long in stocks in this current market environment is a high-risk low-reward trade in my opinion. 

US Dollar Index Buy Near-Term - The US dollar index is continued to be forecasted higher to 102.95 to 103.82 or higher near-term. 99.233 is near-term support and 98.992 is longer-term support. If 98.992 support breaks the forecast would turn to the downside with a projected forecast of 92 to 94.  

Gold Silver Buy Near-Term - Gold and silver have been very strong, and are forecasted to continue higher. The potential for an even stronger upside move is very possible now. The upside forecast for gold is 1375.53 and possibly higher in this next forecasted higher move. $1122.98 still stands as major support for the bullish case to hold with gold. Silver upside price forecast is 19.03 to 21.17. Any pullbacks in Silver especially to the 16.50 to 16.60 would provide a low-risk high-reward trade with a stop-loss of 15.62.