didn't have much time to post lately... but looking at the mid term, it does look like the SPY is experiencing distribution right now, and a long overdue correction is in the cards. This is what I and many others expect... if we're wrong, then a major mid term rally will occur.
looking at the charts, we see the dollar UUP is rallying, oil and gold are tanking, so this would support the thesis of a correction coming up in the markets and commodities. Following this correction, then getting long commodities would likely be a good idea.
If GLD corrects to between 100 and 104, that would be an ideal buying time... probably won't happen until January. But for the next two weeks until after new years, we will likely just chop around current levels because the powers that be won't want a market to tank before Christmas.
No comments:
Post a Comment