This is intended to be a forum for me to post chart ideas and hopefully receive feedback and stimulate discussion.It is not intended to constitute investment advice.
Hey CR, The ASX200 its banks and miners on look to be heading down heavily very shortly. Gold via NewCrest Mining (NCM) up. It is one of those critical inflection points where something will give. My view it is down hard till October with gold going up. May be as early as tomorrow to catalyse this which would mean tonight on the American markets will be down. May be one more day of finishing up these corrections before something ignites down. The degree of the decline is quite big so expect the American markets also decline in some way. The Aussie market kicked off down January this year and has generally been correcting since May/June. The next waves down (either wave three or C) about to kick off IMO and very likely have good momentum - projections are down to October.
It is definitely an inflection point and my view is down. If not up we go. But would say momentum increasing very shortly one way or the other in a day or two.
Thanks JD....the strength in the markets on Wednesday threw me ,but I suspect there was a lot of stop-running (Ftse,Dax etc).....they dont make it easy
Hey CR, The ASX200 its banks and miners on look to be heading down heavily very shortly. Gold via NewCrest Mining (NCM) up. It is one of those critical inflection points where something will give. My view it is down hard till October with gold going up. May be as early as tomorrow to catalyse this which would mean tonight on the American markets will be down. May be one more day of finishing up these corrections before something ignites down. The degree of the decline is quite big so expect the American markets also decline in some way. The Aussie market kicked off down January this year and has generally been correcting since May/June. The next waves down (either wave three or C) about to kick off IMO and very likely have good momentum - projections are down to October.
ReplyDeleteIt is definitely an inflection point and my view is down. If not up we go. But would say momentum increasing very shortly one way or the other in a day or two.
Two bobs worth :)
Thanks JD....the strength in the markets on Wednesday threw me ,but I suspect there was a lot of stop-running (Ftse,Dax etc).....they dont make it easy
ReplyDelete