Looking For Sharp Selloff In Everything
I expect a sharp selloff in all risk on assets for the rest of this week, at least. That likely includes gold and silver. Looking for re-entry on short term trading positions either Friday or next Monday.
I expect a sharp selloff in all risk on assets for the rest of this week, at least. That likely includes gold and silver. Looking for re-entry on short term trading positions either Friday or next Monday.
Whoe,…..what?
Are you changing your tune Mister?
Well are ya?
LOL 🙂
Please explain.
I won’t put EW words in CM’s mouth.
But there is an argument to be made that the “November Selloff” that I warned of in October isn’t done.
It appears corrective, as an ABC (at least) as higher degree 4.
The rally we’ve seen has been the B wave. C down would be next.
C waves DO tend to be fierce (given the forewarning from A).
My charts are now on Sell again for the indices, at least for SPX (but FLUID).
Tech is leading down. Others are doing just fine (Health, Biotek, even banks).
If we do get this C wave, I see it more likely beginning later in the month.
BUT .. no one has been reading this market terribly well either, with all the whipsaw and intra market divergences.
Thought I was quite clear. Sharp corrective selloff for rest of this week and if enough damage is done(as I expect) can trade long again starting next week. As I have explained in my previous post the BOJ is almost definitely going to hike and markets will be reacting.
Its these four little words Chartsmaster: “includes gold and silver”. These are in conflict with all your recent posts.
I have often called for dips and or sharp pullbacks in various markets including gold & silver from time to time. Doesn’t change that both are still in bull markets and going higher. I specifically said for the rest of this week and likely reversing back up on Friday or Monday after the selloff around the time of BOJ rate hike. (You are trying to read into it because you have been bearish on the PM’s and wrong) This is just a couple of days correction that is healthy for the long term uptrend.
So is it up Charts or is it down? Can’t have it both ways although I can’t blame you for trying since you will always be right if you can convince everyone both are the same thing. LOL
It is clear to anyone who knows how to read and comprehend but you just want to create your own narrative. Of anyone here at this site I make specific clear calls(they may not always be right) but compared to some others, there is no obfuscation or two handed BS.