After a 5 day rally manipulated by insiders ( Stock Buy Backs) and specialists ( Short Covering) to distribute stocks to retail investors near the highs, the market started going down Friday in 3rd step down which will see new lows. We have had 6 weeks of consolidation which is quite unprecedented when many countries in Europe are in depression and Geo political problems are at an extreme level. Many countries are engaging in currency wars which help nobody but is very detrimental to International US companies.
We cannot rule out the possibility of the indices going back to recent highs but it will then go back down.
US debt is more than 18 Trillion dollars and going up nearly 5 trillion dollars per year. How long can we sustain this? Bankers once more smashed Gold and Silver prices on the basis of a fake unemployment report on Friday. In the oil industry, there were 20,000 layoffs , yet the labor report said that only 4000 people were laid off. When the real unemployment rate is more than 20% if you take into consideration all those people who are looking for jobs and cannot find with a decent wage. How long can we tolerate an open war between the congress and the White House?
In many countries, the demand for Gold is so high because of devaluation of their currencies, that a drop of $31 was nothing but manipulation by US and European Central Banks. On a technical basis, we made a low in 4th sub step down and will now make a new high above recent highs in 5th sub step up.
When economies are bad, and people are in a bad mood, there will be no lasting agreement between various countries no matter how hard they try.
Markets are sharply down in Europe and we will follow them down soon as well. When there are negative rate long term bonds in Europe, how can interest rates go up in USA on a sustained basis?
DJI
SPY
IWM
TNA
DGAZ going higher after a short weather related decline
UGAZ Going higher short term
UVXY Volatility Going Higher
SVXY Going to New Lows
GLD
GDX
NUGT
XLE
ERX
ERY
YINN Chinese market going down
RSX Russian Market going up as short term Oil prices are going up
RUSS
RUSL
We cannot rule out the possibility of the indices going back to recent highs but it will then go back down.
US debt is more than 18 Trillion dollars and going up nearly 5 trillion dollars per year. How long can we sustain this? Bankers once more smashed Gold and Silver prices on the basis of a fake unemployment report on Friday. In the oil industry, there were 20,000 layoffs , yet the labor report said that only 4000 people were laid off. When the real unemployment rate is more than 20% if you take into consideration all those people who are looking for jobs and cannot find with a decent wage. How long can we tolerate an open war between the congress and the White House?
In many countries, the demand for Gold is so high because of devaluation of their currencies, that a drop of $31 was nothing but manipulation by US and European Central Banks. On a technical basis, we made a low in 4th sub step down and will now make a new high above recent highs in 5th sub step up.
When economies are bad, and people are in a bad mood, there will be no lasting agreement between various countries no matter how hard they try.
Markets are sharply down in Europe and we will follow them down soon as well. When there are negative rate long term bonds in Europe, how can interest rates go up in USA on a sustained basis?
DJI
UGAZ Going higher short term
UVXY Volatility Going Higher
SVXY Going to New Lows
GLD
YINN Chinese market going down
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