At the beginning of the week, I stated that this week would be a game changing week. It's beginning to play out that way with tomorrow being the key day.
Yesterday, the Trade Triangles issued a major buy signal in gold (FOREX:XAUUSDO). Could this possibly be indicating that inflation is on its way? I have said all along that the only way the United States can get out of its multi-trillion dollar deficit hole is to inflate asset prices.
Today, the Trade Triangles issued a buy signal on the Dow (INDEX:DJI). Can the NASDAQ and S&P 500 follow behind?
In today's video, I will be looking at gold and where I think it's headed to the upside and the implications it could have on equity prices.
I will also be checking in on a couple of stocks that you may find interesting. I hope you enjoyed yesterday's video on MarketClub's Internet portfolio and that you were able to benefit from the signals in that particular portfolio.
What will make this a game changing week is how the market closes tomorrow. If the Dow, NASDAQ, and S&P 500 all close higher for the week, then I think there will be another push-up in this aging bull market.
Most analysts have been trying to call a top in this market and, for better or worse, it has not happened. As I have said many times in these postings, I trust in the Trade Triangles. They may not get every signal correct, but they certainly capture the major moves.
Have a great trading day everyone.
Every success with MarketClub,