Hey! Where Did All The Money Go?

July 21, 2015 - 5:10pm

 by Gary Wagner

Gary S. Wagner - Executive Producer

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Gold Forecast: Proper Action

We issued a buy signal yesterday:

Maintain current long gold @ 1106

Maintain stop below 1093

Gold Market Forecast

Yesterday we noted:  The real question is whether that intraday low completed our current Elliott wave count in which we are currently in our fifth wave down.

If that is the case we will see support enter the market and some sort of pivotal key reversal candlestick pattern will be identified. That would trigger a buy signal that would be sent out via a special trade alert. Last night we issued a buy trigger in gold. 

The ca·ve·at: On the other hand if we see continued selling in the market we will have to reestablish our downside target and in that case we would look to reverse our position to the short side.

Trending Markets: Proper Action

As we spoke about in market forecast, we have seen the potential for corrective phases entering the four primary markets that we have been following. If we receive technical confirmation of a key reversal in any of these markets, that would trigger a trade alert that we would send out by special email with specific trade recommendations.

Trending Markets Forecast

Over the last couple of weeks we have seen clear and concise trends in play with the US dollar and US equities markets moving higher, with the euro moving lower along with crude oil.

Although we cannot make a definitive statement from this one-day move, it appears that these markets for the most part have entered a corrective phase in which they are reversing the former direction that was prevalent within the market.

US Dollar –Lower corrective phase now possible

Euro –Higher corrective phase now possible

Crude Oil –Higher corrective phase now possible

S&P 500 –Lower corrective phase now possible

Sentiment Indicator: