Consolidation continues..

..or do we break out from here? All things considered (e.g., seasonal factor, mixed earnings, reform uncertainty etc.), there will most likely be one more down leg, and the consolidation should be over. Where to from there? We could see clearer direction post-Labor Day.

I cashed out last week of April, but it looks like Silver (used to be my main long) has gone nowhere since then (see below). Sweet.

S&P 6-months: starting to look like a falling wedge, which tends to signal a reversal

Silver 6-months: silver has held up well relative to stocks..a positive sign for risk