The Dow finished powerfully last week as those most pessimistic covered their positions, forcing a larger move than was real, genuine buying.
Many are now beginning to see the Fed's goofing and spoofing will reverse, but not before they demolish these markets into submission.
This relief rally is little more than yet another sucker move to shake out the bears and excite the bulls.
Notice the gap has been filled now from the 13th June...also a 50% retracement of the recent plunge. Will the rally follow through this week and take us to 32000ish or fail again after a huge move?
Shorts here, are again the reason to sell the rally....the inflation genie is out of the bottle, the Fed is to blame.
Bear markets always produce violent rallies and turn again on a dime...that's their nature. Just as the bulls believe the worst is over...another fake out. It's only a matter of time before serious economic data spills these markets south at high degree.
There is only so many dollars to spend, if your purchasing power is being eroded each week, this will have a ripple effect on every facet of industry and employment.
Gold continues to hold up very well in the face of this bear market and economic tsunami coming. One of few assets that hedges against this wealth evaporation, when multiple wave 3's down hit the Dow...we expect gold to be under pressure but have full faith that the oldest true money on earth will come out gleaming.
Appreciate a thumbs up...Good Trading!
Many are now beginning to see the Fed's goofing and spoofing will reverse, but not before they demolish these markets into submission.
This relief rally is little more than yet another sucker move to shake out the bears and excite the bulls.
Notice the gap has been filled now from the 13th June...also a 50% retracement of the recent plunge. Will the rally follow through this week and take us to 32000ish or fail again after a huge move?
Shorts here, are again the reason to sell the rally....the inflation genie is out of the bottle, the Fed is to blame.
Bear markets always produce violent rallies and turn again on a dime...that's their nature. Just as the bulls believe the worst is over...another fake out. It's only a matter of time before serious economic data spills these markets south at high degree.
There is only so many dollars to spend, if your purchasing power is being eroded each week, this will have a ripple effect on every facet of industry and employment.
Gold continues to hold up very well in the face of this bear market and economic tsunami coming. One of few assets that hedges against this wealth evaporation, when multiple wave 3's down hit the Dow...we expect gold to be under pressure but have full faith that the oldest true money on earth will come out gleaming.
Appreciate a thumbs up...Good Trading!