This is perhaps the most bearish rally in history. The number of people yelling that the market will crash 80% to 90% is still amazing and the number of short positions remains at record highs, proving this rally is far from over. Now we approach a cluster of Weekly Bullish Reversals below the former major […]
COMMENT: Marty, you hit the nail on the head. Nobody looks at these fines against the banks as you have. You are right. The shareholders pay the price to keep the bankers out of prison who still get their bonuses. It is one giant fraud upon the shareholder. They use the shareholder capital for personal insurance. […]
The Dow Jones took out the Weekly Bullish but not the key one at 17846. This is why we are basing without immediate follow-through. Nonetheless, our primary technical targets for the year stand at 17345, 18791 and 18880. Holding the 17345 level warns that we are still move to the upside. A weekly closing above […]
Gold needs a closing ABOVE 1254.50 to signal a rally. A closing below 1225 would warn of a decline. Between these two numbers is still neutral. In Silver we nee a daily closing above 1551 on a daily basis to signal a rally but a closing above 1531 today will keep silver in a neutral […]
The Dow failed to elect any Monthly or Quarterly Bullish Reversals. It did elect two of the three Weekly Bullish Reversals, leaving the 3rd intact. We provided these numbers previously, warning not to expect follow-through without electing all three. “In the Dow, we have a cluster of Weekly Bullish Reversals starting at 17680, 17750, and […]
QUESTION: Dear Martin, I have been reading your work for several years. since you were in prison…I was able to download it from the internet and saved it all. I bought your Gold and Banking Analyses and read your daily pieces religiously. I was not able to attend the WEC as it appears you favor conferences in […]
When you have a consistent system that is running on absolutely everything around the world, you can simply look at it dispassionately and judge everything by the same standards. In gold, euro, Canadian dollar, DAX, and many other markets, we generally moved to weekly, monthly and/or quarterly reversals and then stopped shy of electing them. This typically reflects […]
Today will be the close for the week and this will be an important indicator. A closing in gold below 1237.50 will warn of weakness. We have important technical resistance at the 1245 level and a closing back below that breakout line will also warn that the upward momentum is starting to decline. Gold bounced […]
While the markets have cheered the public admission that the central banks have completely failed in their quantitative easing and they will now buy more for longer, the technical profile is not as buoyant as it might appear on the surface. We have at least begun to enter the resistance area, but we have still […]
QUESTION: Hi Mr. Armstrong, Some of your readers, me included, wonder how the Dow is going to get to 23,000 or more, especially as we go through an economic slowdown. This would suggest a P/E of around 23 or higher. Is the common thinking that would accompany such a move similar to past manias (tulipmania, […]
