This was a mixed week in all asset categories, but much less violent than last week, with the largest gains and losses in the commodities.
From 2011 to 2015, stocks were in a mighty uptrend, with the DJIA rising from 184 grams to a high of 523 grams. In 2016, however, they have broken down through that uptrend line, and have closed below their 36 month moving average in each of the last two months. This is a strong sign that stocks are now entering a prolonged downtrend, and any extended rallies will be selling opportunities. See the full post for details and recommendations.