The cash market is closed today but the E-minis are down substantially, currently challenging the trend average in a W3. As I speculated on Friday, if the trend does not hold then the possibilities of a intermediate top and a correction of a higher degree might be in the works. Libya is now the reason for the sell off, if turmoil spreads to Saudi Arabia you can bet there will be $100 plus oil and a plunge in the stock market. Also, on a side note, Gold is flashing a buy signal so I will initiate positions in Gold. It seems the biggest bullish wave in Gold is the one coming.
No comments:
Post a Comment