Nothing really unexpected happening. Friday the market tested resistance and headed lower. We are still moving back and forth within a lower highs and lower lows scenario. A few select strong stocks might be able to move higher still, but overall staying defensive is the way to go right now.
In the meantime listen to the excellent and very interesting Audio Interview with Robin Griffiths from Kingworldnews. Here’s the road map for the S&P 500 Index according to his analysis: The markets are headed for a low in October. Then we’ll have another rally with the markets tanking in 2011 in order to then test or even break the March 2009 low.
In the end predictions do not matter. Watching price and reacting to it is the name of the game. Until we don’t print higher highs the path of least resistance is down.
Many are stubborn in pursuit of the path they have chosen, few in pursuit of the goal. – Friedrich Nietzsche
My public list with all my charts can be viewed here:
http://stockcharts.com/def/servlet/Favorites.CServlet?obj=ID2791469
Buenas noches!
Related posts:
- Market Headed Into Resistance – Gold Building A Bearish Flag
- HUI Gold Bugs Index – Potentially A Bullish Wedge Chart Pattern
- Jim Rogers Audio Interview On King World News
- Technical Analysis Of The Gold Index Price Chart – Future Outlook
- VEN.TO – Ventana Gold And LSG.TO – Lake Shore Gold Setting Up Again
- Shanghai Index Is Lagging – Price Divergence With S&P 500
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