1. Gary Post author

    A couple of days ago I warned that the Nasdaq would test, but likely not get through resistance at the all-time highs on its first try. It tested 5200 yesterday. It’s probably time for stocks to follow oil down and generate a daily cycle correction.

    The perma bears will get this one wrong again as usual. They will assume that stocks are rolling over, and they are not. This will just be a normal profit taking event as the Nasdaq catches its breath. When oil bottoms then the market will turn back up and the Nasdaq will breakout to new highs, and maybe never look back. It will be led by biotech just like I said it would.

    Please stop listening to this emotional traders that don’t have a clue what is happening. They are stuck making the same mistakes over and over. Be prepared to buy to the dip in stocks, biotech and oil soon.

    Remember the time to buy is when you are scared.

    Assuming of course that the PPT doesn’t step in and prevent the normal correction from unfolding…

  2. humbled

    If the market dips lasts deeper into correction mode, while gold and silver continue to head north, how would the mining stocks behave..

    Correct with the general market or go up with gold but more muted magnitude? the trading session we saw GDX up but GDXJ down slightly. It wiuld seem that the junior miners are more averse to market pullback?

  3. crawfordnews

    How low can it go?? 1975-2000?? the S&P 500 has completely disconnected, not just from earnings, but from every other major stock index in the world.

    1. Gary Post author

      As I pointed out, all the European markets have bottomed and held above the February low.

      The recession in Europe as it was, is coming to an end, or is already over.

      The economy in the US is starting to accelerate. Everywhere I go there are help wanted signs literally everywhere.

      An inflationary phase has begun. The longer one tries to ignore it the more money you will lose.

      We’ve made an insane amount of money so far this year (and it’s only half over) because I identified the turn early and took advantage of it. You can either keep looking in the rear view mirror and completely miss one of the most profitable opportunities of the last 10 years or you can get on board and salvage the last half of the year.

  4. gent25

    Make no mistake. When oil breaks hard below $40 it will make a run to low $30s.
    These two day baby bounces of pennies is not gonna cut it… just waiting for the first shoe to drop.

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