Activity index starts out at 200, and then drops to 66 shortly thereafter
Propensity index continues to decline into tomorrows open
high of 3022 to as low as 2990
__________________________________________
GOLD is tracking stocks AGAIN as the DOLLAR takes a hit off 2.70 yesterday
GOld hitting 950 as projected
Next stop 850
Look back at Last years high
both had 95% bullish sentiment at the $1000 level
If you count the 2009 high as a "B" wave, then the next level has to take out the 2008 lows
at about $700
If you count it as a failed 5th , the next low could be less than $600
$600 is considered the APEX of the triangle
________________________________________
Armstrong seems to think that gold would make a high at the suspected June 2009 lows
thats Ok imo, if it continues to track stocks
Armstrong thinks there is a potential for Dow to drop to 4000 in June
Of course we ALL KNOW such EXTREMES will be VERY short lived
the rally that follows, as I HAVE WRITTEN several times
should carry the DOW to possibly 10K by March of 2010
10 year high to high from March 2000 at 14,000
More Later
Jay
THE NEW JAYWIZ 2023
THE NEW JAYWIZ 2023
6 comments:
Ravi,
I think S&P may go down to 700, but that would be a buy.
I expect markets to do 3-4 month upward move from there lasting into August/September before sharply correcting thereafter.
Shankar
jay whats your take on oil. and do i understand correctly. if dow goes down in june, then according to armstrong, gold will go to high. correct? if so they will disconnect? tia
shankar---I would prefer to just daytrade as expectations for any IT outlook means pretty much nothing right about now.
*Chrs *
Got it.
Thanks.
this won't correct very much. In fact correction may alreadyy be over. Another 4 or 5 days to go up yet before a real pullback begins.
I made mention that gOLD
seems to be tracking stocks
If that continues thru April and Maythen June 18th could offer a low as do stocks, but yes we need to watch for a possible disconnect
OIL should alos follows stocks LOW into June,
BUT by March 2010 could be reaching $80 along with a stock mkt rebound at the same time
BUT from there a MAJOR low in 2011-2012 should once again drop oil prices back to $40 range or lower.
The deeper & longer the recession
the cheaper oil will get and will remain there until a suitable replacement is plentiful
Jay
Post a Comment