While the S&P and Dow make serious corrections, the Bond and Gold markets are ripping higher as traders seek a safety net. See Randy’s breakdown and analysis in today’s market update. There’s always a bull market somewhere.
While the Dow, S&P, and Nasdaq are all in correction mode, it makes trading much more difficult. It’s nice to know that there is always a bull market somewhere else. We found that in the precious metals and gold market. I expect to see @ES prices back to at least the 2900 level, but gold (@GC) should break back through the key 1500 level, and the 30 year bond (@US) should get to 164.
The @US is making a double-top so I expect it to pause, forming a pivot high. I will be looking for a 3-5 bar correction once this occurs.
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