22 thoughts on “CHART OF THE DAY”

  1. gary Post author

    See the weekend report for analysis of how the 7 year cycle low in stocks, 3 year cycle low in commodities and 8 year cycle low in gold will all fall together into an extreme climax selling event later this year. One can either start preparing for it now or have their portfolio destroyed by it.

  2. Stockman

    How confident are you in making these cycle predictions given CB’s are manipulating these markets? You yourself are making these claims that CB’s have distorted these cycles by not allowing even intermediate term corrections.

  4. Huckleberry Finn

    Not gonna happen. Dollar has topped and Euro has bottomed. Oil and Euro are joined at the hip and you might see $50 but it will in all likelihood end October (your point at the low) over $70.
    Everyone expects rate hikes from the Fed, but they are not going to happen.
    This kind of mindless continuous bullishness is what happens at the end of a bull market, people keep expecting higher and higher highs, as you are for the dollar.

    1. gary Post author

      I’ll bet a burritto you are wrong on this one. The dollar is only half way through it’s rally. If that was a parabolic move then the chart would have collapsed. It hasn’t collapsed. In fact it has been so strong that the normal corrective process hasn’t even been able to retrace back to the 38% Fibonacci level.

      I to find it hard to believe the fed could print trillions of dollars and yet the dollar would enter a secular bull market, but that is exactly what has happened. I guess it just shows how much weaker the other global currencies are.

      1. Huckleberry Finn

        I think what you should be asking yourself is why the Euro is now refusing to go down in spite of the bad news. The Fed will not hike till March.

        1. gary Post author

          It’s just getting started. Even with central bank intervention they can’t keep the dollar down. You’re going to owe me a burrito 🙂

  5. Stefan

    There is a rumor in Sweden that IMF will replace the dollar as the reserve currency the 30th of October 2015.
    I find it highly unlikely though, maybe in 5-10years, but not now.

    For now and a couple of months ahead:
    * Stockmarket correction (Grexit trigg today)
    * Stronger dollar
    * Gold&Silver down

    This outlook is supported by Gary Savage and Jordan Roy-Byrne 🙂

    1. Bob UK

      As the Yanks dictate what the IMF does I find that Swedish claim to be, well, laughable. They should go back to their swingers’ parties in the saunas whilst listening to Abba songs… and forget about such nonsense.

  7. Stefan

    Bob UK and if it actually happens you can tell your american friends how it feels like to lose the status of a reserve currency. I much more prefer swingers party, sauna and abba, compared to a tiny little overcrowded rainy island full of ugly women.

    2. Jonathan

      Stefan:
      I love abba very much! These are among the greatest songs of all time. I still listen to them once a while.

  8. Li

    In general, I agree that oil has switched from buy the dips to sell the rips. But I’d like to see how oil closes on Monday. If it gets back up above 56.50 and closes there, there might be one last gasp left.

  9. gary Post author

    Looks like I’m going to add another burrito to my stash. Oil is dropping like a rock and the dollar is rising even with central bank intervention to keep the euro propped up.

    I’m your huckleberry.

  10. Dan

    IBB already green – lol. You’re right, the market is likely heading down over the summer and into the fall, but these criminals sure won’t make it easy.

  11. Carl

    Despite the Greece disaster, and the higher probability of the Grexit, EUR is just holding unchanged from last week. How surprising or…is it understandable? I say that if Greece stays in the eurozone and gets another free loan from ECB and IMF (translate: from EU citizens pockets) then EUR drops. BUT if Greece exit the euro and gets back to the drachma, what do you think removing that weakest component of the euro will do?? Exactly: it will boots the EUR (and pulls doller down). To be followed this week…

  12. Stefan

    I am not so sure Carl, keep the EU puzzle together, see USA is nervous this morning. They do not want Greece to head into the BRICS domain. If one domino brick falls maybe others to follow?

    Varoufakis said in an interview 6months ago that Germany was able to solve the problem long time ago, but that required them to level out their upper hand power against France.

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