So that makes the market even MORE prime for a correction, right? :)
In any event, enough with the ping-pong range games.
Here are some lines in the sand to take notice.
If the SPX breaks above 1080, on a closing basis, that makes me take notice. Today we hit 1079.xx multiple times, but could not hit 1080. Above 1100 makes me question if I need to reconsider my whole view. SPX below the bull trend line means to me "The Bear Market is back", and watch out for the bite.
 |
| From WebSurfinMurf's Financial Blog |
USD breaking below 72 is extremely alarming, and below 70, well, bunker down for some life changing events. USD goes on/above 78 makes me thing the USD bottom is in, and the market is ready to collapse.
The 10 year (TNX) interest rates broke below previous bull trend line (which is good for America's debt machine). Looking for rates to break back above bull trend or below green line in graph below.
 |
| From WebSurfinMurf's Financial Blog |
Gold is kinda a wild card, the events above in either direction may support Gold. Monday I bought a LITTLE of the gold miners I once sold. Not too much since I think gold miners will pull back hard, but so far I have been so wrong, best to have a hedge.
No comments:
Post a Comment