Because of bullish tendencies on the last day of the Quarter and first few days of the new Quarter, the market has ben going up in the last 4 days. This rally is almost over.
DJI is the strongest index as 30 stocks in this index can be easily manipulated. The real weakness remains in Russell 2000 which made a new low below the step 3 low. Others should follow towards new lows below Aug 24 lows.
Gold has been going up and it will go above $1300 in next few weeks and NUGT has been going up. It has had a gain of 50% in the last 4 days. We have been predicting a rally in Gold for some time and our readers were not surprised. It has gone up from $1098 to $1145 premarket today.
Natural gas has been going down to new lows. Oil has had a nice rally but looking at fundamentals it should start going down again. After some rally in Natural Gas we will again go long on DGAZ which will go down in the rally.
If you look at the chart of SPY for the last 15 days, from the 4th step top , we had a decline to lows in 5 sub steps to a low 4 days ago in substep i and the rally recovered 78% of the decline in substep ii. And now we should have decline in substep iii to new lows. We cannot rule out the fact that Sub step ii can go higher before the decline begins.
DJI is the strongest index as 30 stocks in this index can be easily manipulated. The real weakness remains in Russell 2000 which made a new low below the step 3 low. Others should follow towards new lows below Aug 24 lows.
Gold has been going up and it will go above $1300 in next few weeks and NUGT has been going up. It has had a gain of 50% in the last 4 days. We have been predicting a rally in Gold for some time and our readers were not surprised. It has gone up from $1098 to $1145 premarket today.
Natural gas has been going down to new lows. Oil has had a nice rally but looking at fundamentals it should start going down again. After some rally in Natural Gas we will again go long on DGAZ which will go down in the rally.
If you look at the chart of SPY for the last 15 days, from the 4th step top , we had a decline to lows in 5 sub steps to a low 4 days ago in substep i and the rally recovered 78% of the decline in substep ii. And now we should have decline in substep iii to new lows. We cannot rule out the fact that Sub step ii can go higher before the decline begins.
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