SCT Issue #245
Just a quick note here: On my weekly systems, a closing in the Dow Industrials today below 16,825.19 is a very bearish signal – strongly suggesting we will see roughly another 1,000 point drop next week with the Dow falling to as low as 15,672.
Do not take that as a sign to add any bearish positions on your own. I merely point it out to show you this market has much further to go on the downside. With the Dow now trading at 16,526 as I pen this issue, odds are we will see that weekly sell signal hit today.
Assuming so, I will look to add to bearish positions on a bounce and as early as Monday, but wait for my signals.
All of your bearish ETFs on U.S. equities are surging dramatically higher. You have not yet been filled on EPV, but do not chase that market. I will instruct you on what to do in an issue on Monday.
Gold has FAILED to elect any buy signals, strongly suggesting that what I told you earlier – that its rally is nothing more than a bounce – is right on target.
Stay tuned and best wishes, as always …
Larry
