With some wild action in key markets, here are two important charts.

What Can Stop Stocks?
November 29 (King World News) – Here is a portion of what Jeff Saut’s partner Andrew Adams wrote:  
The S&P 500 has eclipsed several resistance levels over the last few years, and it is not showing signs of slowing down…


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The most recent hurdle on the weekly chart is a line drawn from the late 2014 and early 2015 highs that kept the index in check recently, yet this resistance line now appears to be have fallen. A weekly close above the line would provide confirmation of another bullish breakout, while pulling back below the resistance would indicate weakness could finally be coming.

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Energy Opportunity
We pointed out a few weeks ago that the Energy sector was hitting long-term resistance and could struggle in the near term, but the subsequent weakness has brought the sector back down to potentially attractive levels above support. Some resistance does remain a little above the current price, but if you are looking to take a shot at Energy, this appears to be the clearest nearby support level.

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It continues to underperform compared to the S&P 500 but is close to breaking above resistance on its relative strength chart against the index (lower panel).

King World News note:  KWN would caution that commercial traders have all-time record short positions in the crude oil market (see 23-year chart below).

All-time record commercial short positions in crude oil

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This could mean a serious price drop is ahead for the price of crude oil. We will keep an eye on the crude oil market and update as needed.

***KWN has now released the powerful audio interview with London whistleblower and metals trader Andrew Maguire and you can listen to it by CLICKING HERE OR ON THE IMAGE BELOW.

***ALSO JUST RELEASED: Bitcoin, Gold, Silver And Economic Depression CLICK HERE.

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