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Strategies & Market Trends : Buy and Sell Signals, and Other Market Perspectives
SPY 689.100.0%4:00 PM EST
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To: GROUND ZERO™ who wrote (120959)3/1/2019 4:28:12 PM
From: Peace2 Recommendations

Recommended By
Clam digger
Mevis

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Well it was looking ripe 2 weeks ago when I posted but there was still room for some upside. The market mostly went sideways to higher in that time frame. I think we'll see some downside now as the market is riper. <g>

Gold is sitting on a fantastic 1 year cup shaped base. It has corrected down in recent days. It could go down some more to say 1280 area but I think it will soon be climbing again. We will likely see a breakout from that one year base down the road. Great time to start accumulating for a long term position in my opinion. Yes, higher rates usually imply higher dollar which in turn can be negative for gold but I think it will overcome that pull.
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