I have put together a very detailed video this morning coving bother some long term, short term and market cycles. The video is a little longer than normal but I want you to understand fully where the market is trading and what to look for in the coming days.
Pre-Market Analysis Points:
– Dollar is trading higher this morning which is putting pressure on stocks & commodities.
– Fed Chairman Bernanke Testifies at 10am ET which will cause all investments to move wild.
– Oil is trading slightly lower and oil inventory numbers come out at 10:30am ET.
– Natural gas is flat and continues to build a base at resistance for a possible future breakout.
– Gold, Sold Miners and Silver continue to consolidate within a multi month pattern. A major move is brewing but has not been triggered as of yet.
– Bonds are trading up from yesterday’s close after pulling back from reaching our double top price target on Monday.
– SP500 is nearing a couple resistance levels (previous pivot high, down trend line) Momentum, short term and intermediate cycles are starting to top and that means we should be prepared for a pullback/down trend which could last 4-6 weeks.
http://www.thegoldandoilguy.com/wp-content/uploads/2014/11/tgaoglogo.png00adminhttp://www.thegoldandoilguy.com/wp-content/uploads/2014/11/tgaoglogo.pngadmin2012-07-18 09:01:542012-07-18 09:01:54Stock Market Cycles Are Topping This Week