I’ll cover this in the weekend report. I think I had the weekly cycle count wrong. I’m not convinced the Nasdaq is ready to test 8000 just yet. In fact I would just give the stock market a rest for a few weeks. It’s time to focus on the metals. The weekly charts on stocks are overbought. The weekly charts in the metals are oversold.

If one is going to follow a logical strategy of buy low and sell high then it’s time to exit stocks and buy metals.