Is More Correction Needed?

PAAS (Pan American Silver Corp) Daily Chart

PAAS is subject to the same cycles as GDX, so I could also see a final minor retracement before reversing; but it is stronger than GDX and already well off its lows.


BNO (Brent Oil Fund) Weekly Chart

BNO has reached its 16.00 projection target and should now consolidate, perhaps after distributing in this area for a little while longer.  

Summary

At the end of last week, SPX started a minor pullback which may not be complete, and it could ideally take prices down to 2830 or even lower.  

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Charts courtesy of QCharts.

The above comments, as well as those made in the daily updates and the Market Summary about the financial markets, are based purely on what I consider to be sound ...

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