Market Decline Not Over Yet

As predicted in our post of Oct  7 the markets accelerated on the downside. The decline is not over yet.

There will be short term  rally today that will be followed by more declines as there may   not be any agreement till Oct 17. Let us look at the charts

SPY

IWM

TNA

TZA This stock is going up nicely.

Egon von Greyerz, founder of Matterhorn Asset Management out of Switzerland, says

  “The outcome (of all of this) will be more debt, more printed money, and more misery for the masses.  Remember that US debt was $10 trillion in 2008 when the crisis began and now it’s $17 trillion.  And the Fed’s balance sheet was $900 billion in 2008 -- it’s now at $3.6 trillion....

“On top of that, personal credit (in the form of) car loans and student loans is growing exponentially.  Every year now the US debt is going up by at least $1 trillion.  In addition to that the Fed is expanding its balance sheet by another $1 trillion each year.  This means that the US government is currently printing $2 trillion per year.  “

(Taken from KingWorldNews.com)

GLD  has not given any buy signal yet. It is not giving a SELL signal after its rally start   8 days ago.

SLV gave a BUY signal on Monday. No SELL signal yet