Stocks - So much is news dependent day to day, but I remain bullish. Regardless of any cyclical or technical forecast, whether it is mine or Warren Buffet's, outlier events can change forecasts and history in a split second. Technically, the market has broken first level of support at the key 50 day moving average that so many traders adhere to. We're a long way from the 200 day moving average in all the major indexes, (for example, 1210 in the S&P 500), but that would be the ultimate line in the sand. For now, I am assuming we're still in a bull market that got temporarily derailed and I'm awaiting clear evidence the 'worm has turned'. So far, we've had a sharp wave lower on heavy volume and presumably a 'dead-cat' bounce on light volume. The 1249-1289 range (Wednesday's low versus Friday's recovery high) likely defines short-term direction.

Gold - Bull - Cycles indicate a further rally try ahead, but time is running out. New highs are still possible in Gold and Silver. I am still willing to hold my long-term positions because of my belief that with the 'wind at our back' and long-term cycles higher, we are best hanging in there!

Subscribe to the VR Gold Newsletter.

Bonds - Bearish - Fear is moving money into 'safe' areas and we're getting a long overdue technical rally. My view is that this rally will afford us a inverse ETF opportunity to participate when bonds again resume their decline. We should get that opportunity sometime between now and the end of April.

Subscribe to the VRTrader Newsletter