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Gold/Mining/Energy : Gold Price Monitor
GDXJ 97.99+0.3%Nov 11 4:00 PM EST
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To: Crimson Ghost who wrote (55565)6/30/2000 1:31:20 PM
From: Rarebird  Read Replies (4) of 116753
 
Nothing has happened to deny the bullish alternative I see taking place in July: Some corrective irregular action in June has already taken place, which will then lead IMO to a breakout above resistance sometime in the early-to-mid July timeframe, affirming a bullish continuation pattern. What we saw in June was a lot of choppy corrective action in the indices. Once the NDX breaks resistance, presuming it does, I would then expect a "confirmation" of intermediate strength to result in some sort of blow-off spike later in July, followed by a consolidation, a higher level support (base level) building, and then further upside later in the Summer ideally towards Labor Day.

I'm looking at a number of fine tech companies, like FFIV, which have already doubled basically from the April lows and are in incredibly bullish patterns. These are the stocks that got killed in the second quarter downturn and which are now forecasting that the techs have already bottomed this year.

Many people impose their own personal moral/religious fundamental values on the marketplace. Markets are too complex for that and rarely behave in accordance with the perma bearish or perma bullish religious/moral view of the Universe.

This market has chopped up and will continue to chop up all the short term momentum bimbo traders. One needs some patience and real Vision to see the angst that is underlying the equity market and the bullish resolution that is unfolding.

PS Since I'm Human All To Human, I reserve the right to be Wrong.
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