In our update to subscribers last evening we stated that we expected another rally attempt today,although we believed any rally in this time frame would ultimately prove fairly short lived. At the highs today the Dow way up over 126 points, and closed up 122.
For next week we would expect some further rally attempt to come in fairly early next week, and that rally could test the 10315, plus or minus 0 point area in the Dow before we turn back down more strongly. At this point,no matter how strong any rally early next week, we believe that rally will ultimately be followed by a decline to even lower lows over the coming weeks.
For next week, the first reliable signal that even lower prices are coming will be any decline below 10045 on a print basis in the Dow.
At best, any further rally in this time frame might last another few weeks, but the odds are extremely high that much lower prices are coming over the coming weeks and months this year, and we want you to be positioned to experiance any fairly dramatic gains during that decline.
It does not really matter whether the market moves much higher over the coming few months, or much lower. As long as you are on the right side of any major move from here, you should see sigificant profits over the coming months. It is our job to try to keep you on the right side.
Jerry Favors Website
