Apr 5, 2017

Update

It looks dangerous for the bulls..... Nasdaq 10 min chart this looks to me like the top of wave iii of 3.
One small push tomorrow is possible, but if you are long do not rely on this. SP500 looks the same way only this is the top of wave b or 2.


The daily chart - the leader looks tired with MACD double divergence.

14 comments:

  1. How about PM? it seems PM may be up while index go down... at least for today's market... Thanks.

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    1. USDJPY should move higher and PM lower.

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  2. Very timely update...thanks.

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  3. Nasdaq and XLF look like 3 waves from the March 30/April 3rd highs, with today's move being wave c of b. suggesting another impulse higher beginning shortly.

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    1. If I understand it right this plunge today is wave c for some corrective pattern from 30.03.
      It is possible... we will have to wait an see if another reversal higher follows.

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  4. WTF...amazing timing today Krasi! I noticed your update just minutes after you posted it :)

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  5. I hope this SOXX finally breaks too :) feels like it just doesn't want to

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  6. Krasi-I reread your long term update. So far as you suggested (reiterated/referenced in these comments) USD/JPY still higher for a top later this quarter. Curious: why does gold take its cue from the YEN?

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    1. Not sure, probably money is switching between risk-on<->risk-off trade.

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  7. Just looking at your long term charts from January and February again. Shows a essentially stocks turning down sometime this year to about 2022 for a final bottom. Gold cyclical bull only though the latter part of 2018 when it again turns down. If I have this right, doesn't look like much to invest in from 2018-2022.

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    1. Investing.... I do not really see something to buy and hold more than 1-2 years.
      Gold should have something higher between 2020-2023

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  8. Hi, Krasi, how about the sudden jump up of gold price? Usually this kind of event shouldn't affect the trend or? Then still short? Thanks.

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    1. I do not think this "jump" 1% will change something. I will change my mind when I see the USD plunging lower with impulse and it is doing the opposite.

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