As predicted, the market has been making new lows. the recent decline is being attributed to devaluation of Chinese currency. We only look at technical indicators. Market is going even lower. Gold has been rising also as predicted and  energy related stocks are also going down. This trend will continue.

Look at the markets around the world

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The market has been going down as predicted in our last few posts. We have nothing new to say except we may have a bounce  from oversold conditions. This will not last long and decline will resume

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There is not much change in our comments since our last blog. Materials and Industrials and Transportation and Russell 2000 are the weakest segments and the market is losing momentum everyday. We expect a big decline soon.
Oil and energy stocks continue to go down and our ERY keeps on going up. Volatility  hits its lowest level yesterday and we expect it to start going up as the market starts going down. Gold mining stocks can start a rally soon.

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Yesterday DJI, SPY and NASDAQ all went down yet it appeared that SPY and NASDAQ want to go to new highs before a real decline starts. They are oversold in a minor way.
On the other hand rally in SPY and NASDAQ may not make new highs and once these indices and DJI move below the July lows we will have a much more serious decline.
The various indices have been going down in turn.DJT made a high on NOV 28, 2014, Dow Jones Utilities Average peaked on  Jan 28. DJI made a high on  May 19  while SPY made a high on May 20. So we are not expecting a significant rally from here.
Gold and Silver  are showing a very small bullish sentiment and thart is why we expect a rally in Gold mining stocks.

Oil Continues in a bearish environment and our ERY keeps on making new highs, Till we get a buy signal, we will continue to be bearish in oil.

No buy signal in Chinese market yet ( the Govt cannot solve this problem)and Greece market  after opening yesterday has dropped  almost 30%.  It is down 89% from its highs only a few years ago.The agreement between Greece and Euro zone will eventually fail and that will cause major decline in Eurozone markets.

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