25 thoughts on “APPROACHING MAJOR RESISTANCE ZONES”

  1. chrisG

    The funniest amateur TA guys kept saying US haven’t made new highs for 18 mths. They fail to recognize, after tis 18 mths, instead of knocking at the lower end, it’s knocking on the higher end. This is a bull flag formation.

    But it’s good. I love amateur TA guys. I was past that stage. Bcos we need to make money on their losses.

  2. kupqaz

    Hi Gary,
    How long might take oil and stocks to finish the ICL, and resume to the upside ? 1 month or 2?

  3. Gary Post author

    The S&P has marginally broken above the November high. That was the last confirmation. All the evidence is now in and I am going to be correct that stocks are at the very beginning of a bubble phase that is likely to last at least 3-4 more years.

    The perma bears were wrong again.

    1. tulip

      Gary, I usually find you pretty darn clear..
      Im confused in regards to your S&P first its going up (for months now) then this week,, you switch that & state its going down..and it will take months to go up…
      As you are aware that you are the only analyst believing it will resume going higher ..
      today I find your analysis of the dollar baffling..
      Did you mention if the dollar reversed…. anyways its baffling…
      Thank you

  4. kupqaz

    Gary,
    What is the minimum time it should take to bottem into ICL, and what is the maximum?
    TIA

    1. Gary Post author

      There are no set times. But the entire intermediate cycle should last 21-25 weeks. We are on week 17 right now.

      1. kupqaz

        So from mid July to the beginning of august should oil and stocks find the bottom, please correct me if i’m wrong,
        Thanks

  5. CaliJoe

    Gary,

    There looks like very strong resistance at $50 for oil, its having some trouble penetrating that level. We still haven’t gotten out of that coil yet. The energy is up but E&P stocks aren’t doing much, it could be because a lot of them are in overbought RSI.

    What do you think, is oil able to break and move higher?

  7. kupqaz

    Hi Gary
    The SM was yesterday little overbought, can you please check me how it is now, more overbought?
    TIA

    1. Gary Post author

      The TSI is at 58. Not especially overbought. If it gets to 80 then we will be seriously overbought.

  8. Anthonyo

    Is the stock market even open and trading now? The needle has been stuck at Dow +74 for more than 2 hours now!
    What Gives?

    Fear a dull market?

  9. palobar

    From a cyclical perspective, tomorrow June 8, is a very important date for Gold. How Gold responds after that date (+/- 2 days) will be critical for the immediate trend. SEP/NOV’2016 are more important months. I am not convinced that Gold has made a final low yet. However, I must admit that at the recent low in December, Gold achieved unbelievable price and time symmetry. We had a similar situation with the Dow Jones in January. I warned the bears in ‘Investing.com’ on January 20 that they should expect a suprise. I dissagree with those who think that the US Dollar rally is over. While it could easily drop to the 89 level, if you study the quarterly chart, the picture is very clear. The Dollar is preparing to retest the 121 level in the following months.

    1. Gary Post author

      Don’t touch that thing. It’s only good for a move down into an ICL and we are nowhere near that at the moment.

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