Topping Out This weekend, the key asset classes I cover seem to be back in sync (it may even include gold and silver — but that remains to be seen). The latter part of this past week saw fourth waves materialize in US indices, oil, the US Dollar Index, and related currency pairs. Everything I… Read more
Market Forecast Overview
US Turkey Day – Thursday Earlier this past week, I was hoping for a more rapid turn to the upside in a final wave, but we didn’t get one. I figured we had a small window to reach a high by this coming Monday, but by Friday morning, it’s pretty much discounted that idea. We… Read more
Something May Break We’re on the cusp of a trend change across multiple asset classes on an international scale. “Hopium” is a euphemism for the unsupported bullishness we’re seeing both in the market and in the main stream media. It’s not supported by the underlying fundamentals. In fact, if you want a snapshot of the… Read more
Controlled Chaos at the Top We’re on the cusp of a trend change. The US Dollar Index looks like it has changed trend (but needs confirmation); however, the EURUSD wave pattern is questionable. None of the other USD currency pairs have turned the corner to create a new trend, but they’re not far away from… Read more
Long Will Be a Bummer This market is exhausted. Gaps are routinely being left open and virtually everything is moving to the beat of the US Dollar. You can also see revolutions starting to break out in countries around the world (Spain, France, Hong Kong, Chile, Ecuador, Haiti, Papua New Guinea, now Iraq, and others)… Read more
The Last Legs There are two legs left to this rally from December 26, 2018 across all the major US indices. The down leg looks to have started on Friday and with the pulling of the Brexit vote on Saturday, we will likely see more downward movement. (the pound has already reacted negatively). This is… Read more
Dollar at the Center This weekend, we’ve reached the top of the D leg of the contracting fourth wave triangle in the SP500. Expect the E leg down next, followed by a final fifth wave up out of the triangle to a new all time high. The larger pattern is an expanded flat, so following… Read more
A Pending Top is Waves Away We’re now into the relatively small moves of a final topping process. The US indices have continued to be difficult to predict with any certainty, although it’s been obvious a triangle pattern of some sort is in the works. I’ve warned that I’ve been early in predicting the ending… Read more
Time is marching on, and so is the market, but we still have a top to get in place. It’s a tedious topping process, but nothing much has changed this week. The turn up on Friday afternoon should take us to a new high. Meanwhile …. Mood is Turning Negative I cringe these days at… Read more
