Monday, March 21, 2011

3/21 11:30

An alternate count is now equal probability with the 5 up.  The iii wave below is longer than i.  If the market goes into a triangle/rectangle and stays above wave i then this count is validated.  If the market deeply retraces back to below 11,920 then the original 5 up is valid.
As for precious metals, they peak concurrent with ROC of monetary base and this will not peak in March and maybe not in April.  The weekly base numbers are strong so far in March.    
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3 comments:

  1. pimaCanyonMarch 21, 2011 at 11:05 AM

    Hi Steve,

    You wrote: "As for precious metals, they peak concurrent with ROC of monetary base and this will not peak in March and maybe not in April. The weekly base numbers are strong so far in March."

    Are you saying PM's have ALREADY peaked, and that they will NOT peak in March or April? What is ROC?

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  2. SteveKotelesMarch 21, 2011 at 11:52 AM

    pima. The rate of change will peak prior to the end of QE2. That would mark the top for PM.

    ReplyDelete
  3. pimaCanyonMarch 21, 2011 at 12:12 PM

    okay, that makes sense. thanks!

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