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Intermediate Cycle Low for Stocks?


 -- Published: Wednesday, 29 June 2016 | Print  | Disqus 

By Gary Savage

Traders need to be careful for the rest of the week. In a natural market the daily cycle should still have further to fall and after a bounce there should be one more leg down. But as I have warned over and over, we no longer have free markets. We have not had free markets since the SEC banned short sales on financials back in 2008. So itís entirely possible the PPT intervened today and thatís all we are going to get for an intermediate cycle low.

intermediate cycle decline

This is why I donít short stocks. You are fighting an opponent that has a printing press.

If support at 2040 is recovered tomorrow I would be inclined to assume the rest of the intermediate cycle decline has been prematurely aborted and go back into leveraged funds for the next leg up in this new 7 year cycle.

http://blog.smartmoneytrackerpremium.com/


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 -- Published: Wednesday, 29 June 2016 | E-Mail  | Print  | Source: GoldSeek.com

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