Premarket Update for Oct. 6, 2014
As expected, we have been having a rally after making new lows on Thursday Oct. 2, 2014. After this rally is over , we should have a bigger decline soon. Around the world markets are declining faster than we are and we are not immune to that, in spite of record amount of dollars being printed by USA, Euro zone countries , Japan and China.
DJI
SPY
SPY 10 Day Top was made on Sept 20. Leg one was completed on Thursday Sept 25. Leg 3 started on Sept 26 and Step (i) down was completed on Oct 2. Step (ii) will be completed today followed by larger step (iii) down.
QQQ
TQQQ
SQQQ
IWM Russell 2000 ETF
TNA
TZA
GLD Gold is bouncing off previous low of 1180
GDX
NUGT
DUST
TLT Long Term Bonds
TMV
TMF
Here is another important Supplement that we created yesterday which shows what is happening around the world
Interest rates around the world have been manipulated to as low as they can get. They can go only higher from here .
Courtesy of Elliottwave.com
As expected, we have been having a rally after making new lows on Thursday Oct. 2, 2014. After this rally is over , we should have a bigger decline soon. Around the world markets are declining faster than we are and we are not immune to that, in spite of record amount of dollars being printed by USA, Euro zone countries , Japan and China.
DJI
TNA
Interest rates around the world have been manipulated to as low as they can get. They can go only higher from here .
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