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Listen to Mark S. Young's Interview on MarketView
He noted that gold is moving up in many currencies which is what is needed for a real bull market. He wants to see 1300's achieved initially for gold to get moving. Interest rates and dollar were mentioned as key factors for gold. Said that the US tax bill if passed could cause a set back in gold temporarily but he is bullish farther out.
My work is bullish now and I am long Nugt. My chart for those that missed it on another string...
29 Views · 2 Replies ( Last reply by Russ )
The risk cycle system missed the Wednesday the 15th low. There were only three risk cycle turns that day, the lowest of any day for several weeks. This torqued me so much that I went back and looked at similar major risk cycle lows in my database and was amazed to find several important market lows tagged. I'll be danged if I can explain it, but it certainly looks like very low risk may be just as important as high risk. I clearly need to do a re-think on the signals. More on this later.
The jury is still out as to whether the Friday the 17th risk window will amount to anything. The strong breadth on Friday despite a down day would appear to indicate a minor low occurred, but that's just a guess. Monday the 20th will tell the tale.
This coming week the days with largest number of risk cycle turns are Tuesday the 21st and Friday the 24th (no days have extremely low values).
The main system was whipsawed this week and ended the week long RYDHX.