Dear Readers, The National SOPITALIST Casino is closed for today. We did not trade, some members did. We forecast a down opening with the stronger closing. We got the Down opening down closing. Our forecast was predicated on YEN going lower after initial strength within 16 hours of the market open. Well, looks like YEN chose to do it in the second portion of the 16 hour time period ( we shell see that tomorrow - if YEN indeed stopped rising next 8 hours). If so, we could expect to see markets opening higher tomorrow.
Gold had nowhere to hide and Dollar gained, Both as predicted.
Main problem to my forecast is inconsistency in GOLD / Stocks forecast. If GOLD and EURO currencies ( EURO/CHF/GBP) should go down at least into tomorrow and perhaps into monody then how does the Stock Market go higher and YEN go lower?
My apologies to Mark, As I never looked into my email today. Next Time Mark, let me know via Blog You send me something (: :) Thanks
Comments from Mark E. Peltier:Hello Boris, If you have time to post this, this is what I am watching. BKX broke the trendline yesterday which is what wave 4's do. Clearly wave 4 wasn't finished yesterday but I am sure it is now. Wave 5 should now rally to kissback the broken trendline. While wave 5 could finish at the trendline (probably when it gets up to 100.50 ish), it is also possible to see an early morning spike tomorrow to hit to 102 target and immediately sell off similar to yestarday's action. Regards, Mark
Comments from Mark E. Peltier:Hello Boris, If you have time to post this, this is what I am watching. BKX broke the trendline yesterday which is what wave 4's do. Clearly wave 4 wasn't finished yesterday but I am sure it is now. Wave 5 should now rally to kissback the broken trendline. While wave 5 could finish at the trendline (probably when it gets up to 100.50 ish), it is also possible to see an early morning spike tomorrow to hit to 102 target and immediately sell off similar to yestarday's action. Regards, Mark
Dear Xerxes,Readers, Yes, thee is a possibility for $US to rally into Nov 26. Now that could explain why the Stock Market may also bottom in that time frame. Stocks hate strong $US. They can only rally when SENIORS are raped with the devaluation of the $US.
6 comments:
Us markets are good at having two Armstrong 8.6 cycles up and then the same sideways.
1966 - 1983 was flat.
1983 - 2000 was up.
I think there is a good chance this is like late 1973 in the midst of a flat period.
As such there is a stong possibility that US markets won't make significant new highs for another 10 years.
Where's Joe Granville when you want him.
yen did turn
old john
About 9 pm chicagotime- Yen has reversed and is at 110.5.
old john
Dear John,Waldo,
Yen is not 110.04 it is tracing a bit of an anusual pattern from my point of view. It seems to have exagerrated on the upside last 4 days and downside last two days, but still it is within the parameters of "desired". Time though is running out. It must turn up strongly before 8 am trading time. Or things are not the same as I think.
Good Trading
Hello Dear Boris....
Yesterday you said:
Dear Hopper, we gave our GOLD outlook and that is what it is. Once we see the recovery, after 19th Nov, if it is not strong then we may soon be looking gold declining into low 700's at least........
So it appears that what you're saying is that the buck may rally beyond the 19th???
With the fed likely to cut on 12/12 seems that the buck won't have much legs....
Hello Dear Boris....
Yesterday you said:
Dear Hopper, we gave our GOLD outlook and that is what it is. Once we see the recovery, after 19th Nov, if it is not strong then we may soon be looking gold declining into low 700's at least........
So it appears that what you're saying is that the buck may rally beyond the 19th???
With the fed likely to cut on 12/12 seems that the buck won't have much legs....
Post a Comment