Super bull Plunger is calling for a straight up move to 400 on the HUI with no pullback. That would be the most extreme baby bull rally in history. I think we are going to need some corrective moves along the way. We’ll see who is right.
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Interview with Jim Goddard on talkdigitalnetwork.com
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Buy low, sell high: Easy to say, but hard to do
This is the last day to get the money back guarantee.
Yesterday was the optimal day to buy long when stocks completed the swing low. It’s not too late to buy today. But if you wait till your emotions give you the all clear then you are just making the classic retail trader mistake of buying high, and selling low. Now is the time to get on board when your risk is lowest and upside potential the largest.
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I’m pretty confident that stocks completed their daily cycle low on Friday. After I see how today closes I should be able to make the call. If it did complete the DCL on Friday then this was the mildest DCL in the last year and a half. Just another sign that I’m correct about the 7 year cycle low having bottomed. The perma bears are about to get kicked in the teeth yet again.
I’ve made this call before, and I’m going to make it again. The S&P, and probably the Nasdaq, are going to test the all-time highs during the second daily cycle. The Dow will in all likelihood make a new all-time high.
Remember, the time to buy is when you are scared. I think you can buy today, and even if it turns out we have another day or two before the final DCL, once it is complete we will then make a bee line for the highs.
In fact I’m going to give you a money back guarantee that the market is not rolling over like the majority of clueless analysts and perma bears are calling for. If you buy a yearly susbcription to the SMT newsletter today or tomorrow and we don’t test the all-time highs by the middle of June then I will refund your subscription. I only make this kind of guarantee when I’m very confident about the current cycle structure, and I’ve never missed on a guarantee yet.
How many other newsletter writers are willing to back up their product with a money back guarantee?
The guarantee only applies for those that sign up for a yearly subscription today or tomorrow.
This is your chance to buy at a low risk entry. You have to buy at, or close to the bottom, not 3 weeks later when your emotions give you the all clear signal. If you enter a trade too late you risk losing money on a trade that the rest of us make money on.
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I’m starting to see quite a few analysts urging people to chase the metals right here. They missed the beginning of the bull, and are now trying to make up for it by chasing late in the intermediate cycle. They are trying to convince traders that there will be no correction, or that any correction will be mild. I’ve seen this many times in the past. But I’m going to again urge caution. The baby bull is in the final phase where he destroys the portfolios of the shorts and panics longs into abandoning all commonsense right before the first counter trend reaction.
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Weekend Charts: $SPX, $NYAD, $NYA, $INDU, $MID, $RUT, $FTSE, $CAC, $DAX, and $NIKK.
I like the odds that Friday marked the bottom of the daily cycle and half intermediate cycle decline. The next daily cycle should be right translated as well and rally at least into the second week of June before the market starts to get nervous about the Brexit and we get another corrective move.
At this point there is virtually no doubt that the 7 year cycle correction is finished and the next phase of this QE driven bull market is beginning.
In an advancing intermediate cycle price doesn’t stay oversold very long before reversing. The daily cycle has reached oversold conditions.
The advance-decline line is making new all time highs. It’s only a matter of time before the markets follow it to new highs.
All stock market indexes have broken their 7 year cycle down trend lines ($NYA, $INDU, $MID, $RUT, and $SPX).
Once the $FTSE recovers the 200 week moving average then the rest of the globe will be in sync with the US Markets ($CAC, $DAX, and $NIKK).
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The broken 7 year cycle trend line or 50 DMA are potential support levels for the daily cycle low to bottom on.
Notice that the DJIA is back to making higher highs and higher lows – further confirming that the stock markets have entered a new bull market.
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It’s too late to sell short and too late to stop out. Hold on for the cycle low. Once it forms we will test the all-time highs during the second daily cycle.
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Undercut bottom in the dollar coming next? Maybe.
Currencies are tricky SOB’s. Be aware we may still get one more drop to form an undercut low and catch shorts on the wrong side of the market.
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