Looks like an irregular flat correction upward in progress. The critical support break is still DJI 12,135. I will wait for the correction of the 5 down to short again.
With PM1 rising until late April/early May and considering the fact that it correlates so well to the actual market, why are you not long gold and/or silver instead of waiting to short it?
I am starting to wonder if this is an X wave (or something like that) before another zigzag upward. That makes more sense with your I1, down for a few days then backup for a few weeks.
pima, support is broken. The precious metals are a missed opportunity. I was shy of these markets due to EWI bearishness and the current sprint up is due partially to Libya. I don't chase news markets.
Good morning Steve.
ReplyDeleteWith PM1 rising until late April/early May and considering the fact that it correlates so well to the actual market, why are you not long gold and/or silver instead of waiting to short it?
Steve
ReplyDeleteI am starting to wonder if this is an X wave (or something like that) before another zigzag upward. That makes more sense with your I1, down for a few days then backup for a few weeks.
DennisP
Steve,
ReplyDeleteYour critical support on DJX just broke.
Do you need an hourly CLOSE (or 30 min or 90 min) below that level in order for you to take it as a short signal?
Thanks!
pima, support is broken. The precious metals are a missed opportunity. I was shy of these markets due to EWI bearishness and the current sprint up is due partially to Libya. I don't chase news markets.
ReplyDelete