Market Outlook

We get the overdue USD retracement...but no SP500 pullback yet :(
SP500 daily chart is now bullish/neutral and more upside likely while USD retracement continues.
 
I'd like to know a little more about your statements. I just don't see the "serious technical damage" that happened today.

And based on the charts im looking at both silver and gold are in disastrous downtrends only forming bear flags at the moment.

The only SOMEWHAT nuetral thing I can see for gold is that price appears to be bouncing repeatedly off the 200..but who cares.

Unless you have a crystal ball or something I just don't see it..
 
Quote from Took2Summit:

I'd like to know a little more about your statements. I just don't see the "serious technical damage" that happened today.

And based on the charts im looking at both silver and gold are in disastrous downtrends only forming bear flags at the moment.

The only SOMEWHAT nuetral thing I can see for gold is that price appears to be bouncing repeatedly off the 200..but who cares.

Unless you have a crystal ball or something I just don't see it..
More...

Grand Poo Pah is mostly trying to impress those who don't know any better and promote his blog.
 
Weekly charts for key equity indices remain bearish and will eventually overpower the daily charts which have been attempting to form a base and rally.

Due to this protracted basing I was expecting a spike upwards followed by resumption of the downtrend.

However due to the increasingly bearish influence of the weekly and monthly trends the bullish spike may not eventuate in which case daily charts will break down sooner.
 
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