Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings.
If you disable this cookie, we will not be able to save your preferences. This means that every time you visit this website you will need to enable or disable cookies again.
With the Chinese markets plunging… and seemingly something ‘final’ going to happen regarding Greece this weekend… surely the Fed will be stepping in big time this week and next to prop up the markets? I can’t see how they cannot or will not.
Interesting times.
I’m sure they will try. The question is will it fail? Despite massive efforts the Chinese governement has not been able to prop up the SSEC.
Another currency rumor in Sweden this morning, the Greece government working with this company:
http://www.crane.se/start.html
AAPL has already rolled over trading below 50-dma.
The market peaked May 20. We are in the EW post-diagonal triangle plunge. Let’s see what happens.
Yes and there was a lower top more than 30days after the first one, that is bearish imho
Gary,
Your second scenario above seems to have played out today….stocks continued lower. For the SPX, what would be the time-frame for an ICL?
Latter part of July.
NYSE shut for 2 hours now…hmmm
Yep. When all else fails to stop stocks from plunging, shut her down!
There is an assumption that the gold bear market will turn into a bull market once the low is reached. That’s called a non-sequitor. In other words, gold can head into a deep low, then simply trade around those levels for months or even years. This is a phenomenon that has happened across many different markets, for years. We’ll have to see what the conditions are at the pending gold market lows, before deciding whether a new bull market is ready to begin. Until then, all expectations for a new bull market in gold should be thought of as recency bias–the emotional expectation that something resumes.
So true…
#John
If you look around the world with all financial issues I find it highly unlikely that we are heading for a multiyear consolidation in precious metals.
The fundamentals for gold&silver today is so much stronger than the seventies, remember interest rates was at 4-6,7% during that time.
But I’ve wrong so many times so you never know …