Just a quick note here. As I pointed out earlier this week, the wild action you saw after Mario Draghi’s ECB speech this week was precisely what I told you it was: The false move.
The euro has since turned back down while the dollar has jumped higher. Gold rallied violently, but then COMPLETELY FAILED and is now trading at the $1,231 level, yielding technical sell signals on a momentum basis for next week’s action.
Gold is headed down to at least $1,203 and far more likely down to the $1,180 to $1,160 levels.
Oil, meanwhile, is firming up in the $42 level, but preparing for a move to $50-$55.
I will have much more detail for you next week in a gala issue and, of course, in our members-only webinar at 12 Noon Eastern Time on Tuesday, April 26. Please be sure to attend it – we have a lot of ground to cover.
As trying as these markets have been of late, you ARE correctly positioned. When the profits start coming in, they will be pouring in in buckets. So get ready. Our time is coming.
Best wishes as always,
Larry
