Tuesday, 1 March 2016

11am update - significantly higher

US equities have shaken off initial shaky price action, and powered back upward, with the sp +23pts @ 1955. First soft target is the recent 1962 high, after that... the daily cycles will be offering the 1990s this Friday. Metals have seen a strong reversal, with Gold now -$8,  and that is not helping the miners!


sp'daily5



GLD, daily2



Summary

Whether you want to blame Dudley, or just a lack of downside power, we still look headed upward for another few weeks. Clearly though, we're getting kinda close to 'best bull case'... as even Oscar recognises.

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notable weakness, miners, GDX, daily



Both the miners and gold/silver are due a retrace into mid March. Of course, the February gains were EXTREMELY important, signifying a multi-year breakout.

*I will look to be long GLD and GDX in around 11 trading days.

After the retrace... first targets will be $125 and $25 respectively.
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Here in London city...


Rainy... but mild...  spring is almost here.
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time to cook :)