BRIEF MARKETS UPDATE (3:15 pm EDT)
I am traveling today and will make just a brief post here as several markets are moving into critical positions based on our cycle and timing analysis. I am not recommending any trades today, but we may establish positions on Sunday for the market's open on Monday. I will post a longer blog sometime this weekend. We are currently on the sidelines of all markets.
The broad stock market is still looking ambiguous, but short-term technical signals are suggesting that this market could be turning bearish. If equities don't have a significant reversal up by the first half of next week, we may look to sell this market short to ride a final medium-term cycle correction down, possibly into the end of November.
Gold and silver prices are now rising into a strong reversal zone specifically for these metals that started yesterday and continues into next week (we actually have two reversal zones back to back here). We are now approaching our target area in gold to sell short (around $1,280) so we will consider a short position over the weekend.
Today crude oil is making a new low in a strong reversal zone, and prices are approaching our target ($47 - $48) for a bottom. We should be looking to buy here and will consider a long position this weekend.
I am traveling today and will make just a brief post here as several markets are moving into critical positions based on our cycle and timing analysis. I am not recommending any trades today, but we may establish positions on Sunday for the market's open on Monday. I will post a longer blog sometime this weekend. We are currently on the sidelines of all markets.
The broad stock market is still looking ambiguous, but short-term technical signals are suggesting that this market could be turning bearish. If equities don't have a significant reversal up by the first half of next week, we may look to sell this market short to ride a final medium-term cycle correction down, possibly into the end of November.
Gold and silver prices are now rising into a strong reversal zone specifically for these metals that started yesterday and continues into next week (we actually have two reversal zones back to back here). We are now approaching our target area in gold to sell short (around $1,280) so we will consider a short position over the weekend.
Today crude oil is making a new low in a strong reversal zone, and prices are approaching our target ($47 - $48) for a bottom. We should be looking to buy here and will consider a long position this weekend.
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