Feb 6 Thursday 6:20 AM Pacific Time
US stocks have been completing the Five steps down of the First leg down for the last two days. We should have a nice rally starting today
DJI
US stocks have been completing the Five steps down of the First leg down for the last two days. We should have a nice rally starting today
DJI
SPY
IWM
TNA Ready to rally after making the low yesterday
TZA going down -Take profits
GLD Ready to go down to previous lows ig Gold goes below $1245
NUGT Ready to Go Down to previous lows if Gold goes below $1245
DUST Ready to go to previous highs if Gold goes below $1245
It is interesting to look at how the market going to develop near term and intermediate term. Let us look at SPY chart
As you can see above, SPY went down in 5 steps of the first leg down. In Leg Two up it can recover 50% to 80% of the previous decline. Some of the stocks can even go to new new highs such as Google or recover up to 95% of the decline.In spite of spending 4 Trillion dollars , the economic strength is all fake. That is true whether you look at Japan, Europe or USA. Fiat money can only help you so much. After this second leg up has been completed, we will have even more vicious decline.
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