EQUITIES EXPLODE TO THE UPSIDE, BUT IS THE MOVE FOR REAL?
Last Friday the equity markets jumped dramatically to the upside. Is this a turnaround reversal, or is just a dead cat bounce in a longer-term bear market? At the present time our Trade Triangles are in a negative mode indicating that it was a short covering rally in a bear market.
YES! GOLD EXPLODES TO THE UPSIDE
The Wednesday before Thanksgiving we said to watch gold, as a move over the $1,738 level basis spot gold would indicate that all is not well fiscally in the world. This level was breached last Friday in a shortened trading week. With all of our Trade Triangles in a positive mode, you should now be fully long gold to protect your purchasing power.
IS OIL NEXT?
Last Monday, January crude oil flashed a buy signal at $89.69. This signal was generated using our successful weekly Trade Triangle strategy. This signal is still valid providing the $86.00 level is not breached on the downside.
Now, let's go to the markets and see what our Trade Triangles are indicating.
Have a great trading day,
Founder & President INO.com and co-founder of MarketClub.com.