Wow! Was Friday’s action great or what?! Gold rallied then failed again. Ditto for silver.
The dollar started a new up leg. The euro, a new down leg.
And perhaps the biggest news of all was the 400-point down day in the Dow Industrials.
So what now? Were those just fake out moves …
Or, are the markets starting to follow my AI model forecasts and charts that I’ve previously shown you?
My view, based on all of my indicators and models: The decline of many markets into early October has started!
That’s great news for your open positions, many of which picked up some nice gains on Friday.
And if all goes according to the forecasts, the positions should truly thrive!
Right now, there are no new moves to make. What I need to see is today’s market action. Will there be a bounce and if so, how will these markets handle overhead resistance?
Or, will there be downside follow-through, with another round of key support levels being broken.
Of course, emotionally, it’s tempting to add positions right now. But that’s how you run into trouble, acting emotionally.
So for now, sit tight and let me put these markets under my microscope.
In addition to the technical damage caused on Friday, the markets are following the AI models now, almost to the tee.
And on top of that, in terms of fundamentals, there is now talk of a more hawkish Fed and a possible rate hike … and as I pointed out last week, Italy and its banking system is edging ever closer to default.
So stay tuned, the action and profit opportunities should now really heat up.
Best wishes, as always …
Larry
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