Markets bounced back from predictable support levels, as we mentioned last week. With a couple more lunar green period days to go, we are likely to see some additional upside early in the week, but the question remains if we will get any further than that. Let’s have a look at the Nasdaq chart (click… Continue reading Will it continue?
Tag: gold
How to play the correction
The market correction has come right on the mark with the eclipse Red period we discussed last week. It also confirms that our LT Wave remains on track. We have another week of Red period to go. Can we expect more downside already? Here is the current chart for the S&P 500 (click for larger… Continue reading How to play the correction
Prospects for Gold
This is an update to the long term gold chart we posted in February. The large drop of the recent weeks is giving us more clarity going forward. Here is my first chart (click for larger image): This is a monthly chart. Even with the recent drop, this market is still in a clear long… Continue reading Prospects for Gold
Will buyers appear?
Markets continued to march higher last week, but turned down on Friday, which was the first day of our lunar Red period. It looks like there will be more selling today, as stock markets around the world react nervously to the news of the proposed bailout terms in Cyprus. That story sets a precedent and… Continue reading Will buyers appear?
Gold on the brink – part 2
A few weeks ago we warned for a possible sudden move downwards in gold prices Meanwhile gold has dropped more than $50/ounce and is now sitting just above $1600. What’s next? Here is the daily chart (click for larger image): The recent price action is contained within a beautiful arc formation. Last week’s drop tested… Continue reading Gold on the brink – part 2
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