SPX (S & P 500) Just Took Out Yesterday's Cycle Low
SPX (S & P 500) just took out yesterday's cycle low, see http://finance.yahoo.com/q/ta?s=%5Espx&t=5d&l=off&z=l&q=c&p=&a=m26-12-9%2Cp12%2Cfs%2Cw14&c=. When SPX fills the upside gaps created at yesterday and today's open, at 1325.19 and 1310.50, then an intermediate term cycle low will have probably occurred.
Obviously, in this very treacherous market it's wise (it's wise in any market before trading aggressively long, or, before trading long at all, if you're a risk averse trader) to wait for SPX (S & P 500)/NDX (NASDAQ 100)/RUT (Russell 2000) to do a strong multi day short term Wave 1 upcycle, that will trigger a 2% follow through (after breaking the intermediate term downcycle trendline) monthly cycle buy signal, then look to go long during a short term Wave 2 downcycle, that should do an Elliott Wave ABC down up down pattern for about 2-3 days.
The WMT Lead Indicator is very bullish again today, as it's been in recent weeks, see http://finance.yahoo.com/q/ta?s=%5EHUI&t=5d&l=off&z=l&q=l&p=&a=m26-12-9,p12,fs,w14&c=wmt,%5EGSPC.
HUI/XAU/gold are getting crushed along with SPX/major averages, see http://finance.yahoo.com/q/ta?s=%5Ehui&t=5d&l=off&z=l&q=c&p=&a=m26-12-9%2Cp12%2Cfs%2Cw14&c=. The real safe haven in deflationary crashing markets is T Bills /T Bonds and the US Dollar, NOT gold.
The US Dollar probably entered a Cyclical Bull Market in November 2007 after being in a Cyclical Bear Market since late 2005, see http://stockcharts.com/charts/gallery.html?%24usd.
Notice that the gold criminals and nitwits don't point out the fact that the US Dollar probably bottomed in November, and, that the gold Commercial Traders have gone massively short in recent months, while also trading adeptly long on a short term basis? This is because they're engaged in FRAUD.
....... http://www.JoeFRocks.com/ .
HUI NEM XAU
Obviously, in this very treacherous market it's wise (it's wise in any market before trading aggressively long, or, before trading long at all, if you're a risk averse trader) to wait for SPX (S & P 500)/NDX (NASDAQ 100)/RUT (Russell 2000) to do a strong multi day short term Wave 1 upcycle, that will trigger a 2% follow through (after breaking the intermediate term downcycle trendline) monthly cycle buy signal, then look to go long during a short term Wave 2 downcycle, that should do an Elliott Wave ABC down up down pattern for about 2-3 days.
The WMT Lead Indicator is very bullish again today, as it's been in recent weeks, see http://finance.yahoo.com/q/ta?s=%5EHUI&t=5d&l=off&z=l&q=l&p=&a=m26-12-9,p12,fs,w14&c=wmt,%5EGSPC.
HUI/XAU/gold are getting crushed along with SPX/major averages, see http://finance.yahoo.com/q/ta?s=%5Ehui&t=5d&l=off&z=l&q=c&p=&a=m26-12-9%2Cp12%2Cfs%2Cw14&c=. The real safe haven in deflationary crashing markets is T Bills /T Bonds and the US Dollar, NOT gold.
The US Dollar probably entered a Cyclical Bull Market in November 2007 after being in a Cyclical Bear Market since late 2005, see http://stockcharts.com/charts/gallery.html?%24usd.
Notice that the gold criminals and nitwits don't point out the fact that the US Dollar probably bottomed in November, and, that the gold Commercial Traders have gone massively short in recent months, while also trading adeptly long on a short term basis? This is because they're engaged in FRAUD.
....... http://www.JoeFRocks.com/ .
HUI NEM XAU
Labels: Gold, Gold Stocks, HUI, NEM, Silver, Silver Stocks, SPX, XAU
posted by Joe Ferrazzano at
9:52 AM
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