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Strategies & Market Trends : Longer-Term Market Trends -- Ignore unavailable to you. Want to Upgrade?

To: SwampDogg who wrote (2244)	4/1/2010 10:07:26 AM
From: ItsAllCyclical	Read Replies (2) \| Respond to of 3209

On the bull side NEM is threatening 52 again. We have an inverse H&S since DEC on POG. Gold stocks have been outperforming POG on a short term basis, but IT they are definately lagging w/classic divergences on the weekly. That could resolve itself if gold goes another 10-20 higher and the gold stocks head higher. EW wise I think gold may still have a 5 of 5 to go in the primary Wave I. Action during 2008 was the IV of 5 of I (if I have that labeled right, doubt it). I guess maybe I'm biased since everything here as it all seems like the same trade. Gold surges when the market surges. I don't see this as being wave 3, yet. When QE2 is announced (on a global scale), then I think we get the 3 started. Right now CBs are trying to scale back all of the excess money floating around. Here's on EW read and it would probably correspond w/approx 1300 on the SPX.