Dear Readers, Nothing has resolved in the markets again. They buy ans sell pressures are not as supportive for a rebound, but nor are they pointing to a decline. These are kind of times where the short term signals take over and guide the trading. Sometimes we must admit that GPS may not deliver at all times, in all conditions and we may need to use a simple magnetic compass to do the job. Well this is the kind of a time we have right now. Cycles are mixed, Forces are balanced and anything can happen, but remember this never stopped Chuck Noll, Steelers( my beloved team) Coach to use all the "other tools" he had. We have these tools, they are called short term indicators. Give them bigger weight at this time. By the way, we are not out of the ideas, it is just that it is hard to get the clear picture from them. For example, will energy move up on IRAN BS? How well will the GOLD follow older patterns and which one of them? ( Possible top on April 2, instead of bottom and then the bottom on 6-8?). Will currencies will show a bit of a weakness before dumping the Dollar even lower? If you put the gun on my head I would say yes,yes and yes to all these three questions, which would delay the stronger trends by few days. Meanwhile, believe it or not, I think Silver is ready to start tanking and now...
OK, Wonder with me, this maybe fun for a change. It is so boring to be correct ( profitable trough (: :) ), When all else fails look at the Yellow Brick Road in the posting "August Again?". According to it, we are in the bottoming period ( late March , Early April) and then move higher into Early May for Stocks. Everything else follows... Gold sideways lower, Dollar Lower, Energy as Gold and Interest rates hgher.Do you notice how much you can say when nothing you say makes sense?
Good Trading
10 comments:
Good Morning Boris.
This is a very important week regarding the Passover/Days of Unleavened bread and Easter. It doesn't surprise me to see it coincide with a transitional/consolidating phase in the market before it moves. It certainaly feels like Christmas and the week of the Feast of Tabernacles which also coincided with a transitional phase in market last October before market took off. Coincidence????
Dear Danno, Sentiment is well taken, I never try to be confusing on purpose, If/when I am then that is just the way things are for that moment and time. It could and perhaps is all of those things you suggest. Let us hope air clears soon. GOod Trading.
Great call on Silver Boris. Your rumminating on Gold, I believe is correct- moving into low albeit perhaps a shallow one by end-of-week. This corresponds with other Gold cyclical work I follow.
Dear Danno,
I should eat more of the SH.. I produce. If I believed so much in Silver, I should have believed in GOLD at least following it. But I will take what I can. I was more confident about Silver and we got it. GOod Trading
Hi Boris,
I was looking at GG chart and it looks like its next stop will be 21. What do you think?
Dear Rent, I have the following points
22.83 very strong support
20.35 strong support
17.35 strong support
16.20 must absolutely hold
I think anthing below 20.35 is higly unlikely.
Good Trading Dear Rent.
Boris, thank you for the support levels for GG. Good Trading!
good morning boris and team. pardon my obtuseness boris, but does your silver comment mean silver is headed down from here (as i would generally understand "tanked" to mean), or up? thanks.
Dear Malcolmm, Yes tanking means that Silver is going lower, but you will see the kind of rebounds you see now. Very deceptive moves by silver, but the road is lower into April 6-12. Good Trading Dear Malcolmm
Dear Rent, Welcome any time. Good Trading
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