BRIEF MARKETS UPDATE (1:30 pm EST)
The DOW made a new all-time high (17,161) yesterday and seems to be finding support just above 17,000. Several technical indicators are still suggesting a correction here so it could still happen from this new top. I am holding on to my short positions in the broad stock market for today as some sort of correction still seems possible. Next week's price movement will tell us if this is valid.
Gold and silver are making new bottoms this week and there are several technical and timing factors that could lead to a rally in these metals next week. I will analyze this situation in more detail this weekend and may post a buy alert on Sunday. On the sidelines for today.
I will post a longer blog this weekend analyzing all the markets.
The DOW made a new all-time high (17,161) yesterday and seems to be finding support just above 17,000. Several technical indicators are still suggesting a correction here so it could still happen from this new top. I am holding on to my short positions in the broad stock market for today as some sort of correction still seems possible. Next week's price movement will tell us if this is valid.
Gold and silver are making new bottoms this week and there are several technical and timing factors that could lead to a rally in these metals next week. I will analyze this situation in more detail this weekend and may post a buy alert on Sunday. On the sidelines for today.
I will post a longer blog this weekend analyzing all the markets.
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