Monday Market Commentary - March 20, 2017

Stocks Sell Near-Term - Update: Near-term bearish forecast remains the same on the major stock indexes. Options expiration last Friday resulted in slight down close on the big board index market. The Nasdaq was basically flat. Look for a lot more volatility and spreads very possibly widening now. Near-term the downtrend remains intact. Continue to look for a 5% to 7% correction from the near-term highs on March 01 now in the major indexes.

US Dollar Index Hold or Stand Aside Near-Term - Update: The US Dollar index has broken near-term support of 100.21 to 100.38. The forecast for now is no trade and to stand aside and wait for more trading action for a more definitive up or down forecast. Further out a bullish forecast is still possible with the USD index forecasted higher to 102.95 to 103.82 but with broken support near-term we have to wait and see about issuing a more clearer low-risk high-reward forecast on the USD index.

Gold Silver Sell Near-Term - Update: Forecast near-term is down now after a bounce up last week, with a sell recommendation with a downside target on Gold at 1194.78 or little lower, and Silver at 16.79 or little lower.