Looking at the SPY or what's really the S&P 500, I'm looking for a pullback to be coming...
If you can see through all of the crap I have on my chart, I'll explain why I think that...For starters, since the near term bottom on 7/15 the volume has slowly been tailing off; that's a little bearish in my eyes. Also, using Fibonacci Fan's, the SPY is currently up against some resistance...(Almost done explaining)...The green lines I have drawn, represent a 'bear flag' or 'rising wedge' (which is also bearish)...
Just my opinion of the current condition of the SPY.
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In the linked article entitled 'Investment Strategies for 'Peak Dollar', I write that last week was a parabolic rise in the US Dollar and outside of the Russell 2000, the financial sector, the consumer discretionary, home building a few other consumer sectors, the stock market really wasn't benefited. And I wrote of many technical factors why the Dollar Rally is over.
The USD/JPY tonight is turning down; and this is likely to cause EUR/JPY and the world markets to rise.
With higher commodity currencies, gold is going to rise.
I recommend that one go long SKF and DGP; And I recommend that one go short FXP, and EEV and XHB.
I also recommend that one invest invest in gold at BullionVault.com and GoldMoney.com
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