wednesday brainstorming

1. Gold trading is not for the fainted hearts – the top around 1900 kicked in and we lost from the top 150 Dollars in 2 days – that is back to  weekly Bollingers in a week 8 after another daily 13 count (TDM Combo). That says we are going into a period of volatile consolidation / correction before the journey to and over 2000 resumes. It also says that no big announcement from Bernanke is due as expected in Jackson Hole.

2. The rise yesterday in stocks was after all a typical count 5 week ( most of the time counter direction) and after the death cross also reached the Nasdaq which typically triggers a counter move. Looks like we are already in bigger wave 4 after those double bottom patterns and astrology is very bullish for next week as explained yesterday – remember just a little spike to the 1200 region before heading to the 1000-50 area.

3. Some sentiment indicators are extremely bearish – hence short term bullish as the one below

Rydex Nova/Ursa Ratio

 

print Print |  1 Month |  3 Month |  6 Months |  1 Year
Date NAV Adjusted N/U Ratio
08/23 0.196
08/22 0.190
08/19 0.190
08/18 0.211
08/17 0.223
08/16 0.227
08/15 0.232
08/12 0.236
08/11 0.251
08/10 0.248
08/09 0.250
08/08 0.274
08/05 0.350
08/04 0.511
08/03 0.452
08/02 0.450
08/01 0.475
07/29 0.476
07/28 0.502
07/27 0.469
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~ by behindthematrix on August 24, 2011.

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