I have been tracking the precious metals as they have been sliding down their Slippery Slope of Hope in recent weeks. And the usual suspects – the Gold Bugs – that normally see every reason to advise loading up on gold are nowhere to be
Category: Follow My Trades
In recent years the decisions taken by the Western political elite have become ever more damaging to their public’s best interests (except for those on the gravy trains, of course). But there seems to be a major crisis of public confidence coming to a head
Once in a while, national politics is gripped in a major drama. But not only is that in evidence in the UK with the Shakespearian Fall of Boris, but also in the USA. The resignation of Boris was preceded by multiple resignations of cabinet ministers
The MSM can always be relied on to offer us great financial news – after the event, of course. We now learn that the S%P having declined by greater than the arbitrary 20% is now in ‘bear market territory’. While I managed to locate the
The question in last week’s blog title – The News Is Grim So Will Shares Bounce Now? – was answered in the affirmative as I suspected. While there was much talk of a looming recession in the MSM with US and UK fuel prices at
Shares fell hard last week in an orderly fashion (no panic) into Friday’s low with the Dow losing almost 2,000 pts. As I have been pointing out, the US indexes are in a very strong third waves lower that are nowhere near complete. But don’t
On of the great advantages of using the Elliott wave theory is that when an odds-on forecast goes wrong, there are precise levels which will warn you of that – and then you can take evasive action. Such an event occurred at 12 noon UK
I have some good news and bad news for the bulls. The good news is stocks are recovering some of their huge losses! Huge bounces last week pushed up tech in particular (the much-battered Netflix has gained 20% off its 12 May lows). The bad
On Friday, the Dow crashed to a new low of 30,650 and we have had now eight successive weekly losses in the Dow and is a record series of declines that has been matched only once in stock market history.
The chickens are truly coming home to roost. After many weeks of consecutive losses, the S&P 500 has lost just over 20% off its ATH since its 4 January ATH.
On Wednesday, the Fed bowed to the inevitable by following what the market has already decided – by raising interest rates. But with the new Fed Funds rate of 0.5%, it remains at historically low levels.
What a fascinating (and landmark) week – especially for fans of conventional market analysis. Both the dollar and the T-Bonds made extremes (that may or may not last). but the major event was in US/UK stock indexes that swooned sharply.
