The cash and futures markets have reached what I believe is the bottom of Minute 1. Minute 1 of Minor 3 started June 21. I cannot go long until at least the close Friday, preferably mid-day 7/6. Limited analysis tonight and tomorrow until after the close while in Albuquerque.
The final low was lower than I thought, but did not alter the fact that the low is in.
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Steve,
ReplyDeleteHope all goes well with your wife and the doctor. What's the outlook for gold? Technically it looks like cup w/ handle in the process of being made.
Thanks,
Charles
Steve
ReplyDeleteI went ahead and took a strong long position at SP 1015, bought TNA at 33.31. I figured with I1 as a guide and the wave complete and the market had pretty much priced in Fridays job report, the market was over sold. We will see.
Jack
Gold looks set for a partial recovery in line with the stock market.
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