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, […]
We did not elect any bullish reversals. March remains our Directional Change target and the Dow could not close above 16934 for February. Looking ahead, we see the weeks of 03/14 and 03/23 (array posted on the private blog for the Investor level). We have also not elected any Weekly Bullish Reversals. The 17000 level […]
Technically, the Dow Jones Industrials almost set up to make a “Channel Move” between two channels, but they interestingly overlapped instead with no gap between. This is one reason the S&P 500 could break last year’s low, but not the Dow. We made a new high for the month on Friday closing at 16639.97. […]
The markets have been churning back and forth. The trading range for key support and resistance in the Dow resides at 17406 and 16215. A closing outside that range on a daily basis will pick the direction. In Gold Nearest Futures that is 1237 and 1162. Monday we will have our month-end numbers coming into […]
