We are selling off a little in both gold mining shares and the stock market today. SPX support is 827 tomorrow. We are trying to bounce off of a declining tops line and may do so again tomorrow before resuming the up trend.
We will probably exit our longs on Friday in both markets and initiate new short sales.
We use Elliott Wave, cycles as well as technical, and sentiment in order to determine the direction of the Stock Market and Gold Mining Share Market. Trades verified by Timer Trac and trade the close each day. Gold trades track Profunds/RYDEX/XAU mining shares and not bullion. Weekend blog is for the longer term outlook and review of the week. Please support the Welcome Home International Foundation (below) and help yourself by getting your own My Power Mall. Please pass this blog on to others.
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