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Posted on May 26, 2008
Are stock markets
preparing for a second down leg?
I think they are. Checking my charts
on the S&P Large Cap index, the Footsie, the Dax and the
French CAC there is something that starts to look like a Goodbye Kiss is the
wrong direction (down). What bothers me is that the kiss is consumed on the very
border line of the Huge Long Term Distribution patterns (Reversed Head and
Shoulders and Double Tops).
Additionally, the SPIC and the
Dow have already been cursed by a Death Cross in Moving Averages, most of
the times such crosses don’t spell a lot of good.
Going East where the sun rises, the
Shanghai index and Nikkei have stalled against their respective
downtrend lines.
Hyperinflation and the massive
injection of money into the system can however have a similar impact on the
markets like we have seen in Zimbabwe. Still, I think it is wiser to stick with
i.e. Oil & Gas and Gold & Silver shares at least until there is a better
vision on the future.
On the other hand, and this is good
news for holders of stocks of integrated Oil and Gas and service and
exploration shares, most have broken out upwards of their latest consolidation
(read accumulation) zone.
I will discuss the charts in detail
either this week or beginning next week under Life Technical Analysis.
Stay tuned!
Posted on May 24, 2008
Markets in a nutshell
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Expect GOLD to surprise
and shine more than normal during the coming summer.
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Expect the DOLLAR to
resume its’ slide.
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Expect the STERLING to
resume its’ slide against the Euro.
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GOLD SHARES are about to
break out on the upside.
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The COMMODITY index has
broken out again on the upside.
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Expect a resumption of
the CREDIT problems.
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Expect a second DOWN LEG
for the Stock markets.
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Most FINANCIAL stocks are
preparing for a renewed break down.
>back to markets in a nutshell
Goldonomic, Florida, USA -
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