I stated that if the market traded between 18100 and 18500 I would go into cash if I was a long term investor. The print high was near the 18300 area. The Dow June’s declined close to 550 points. I have been saying this is not the time to be complacent. That investing your hard earned money that you saved requires a responsibility not just to hold on but to maneuver in and out. I hear well I will leave up to the professionals. If the S&Ps close below 2072 I would get a sell signal . As I have been saying that I see the gaps below getting filled before we trade higher . Also the IMF asked the federal reserve not to raise interest rates for 2015. I have been saying since January that I do not see any interest rate hikes. Last week we had a dreadful GDP number showing no growth . Oil has run into a brick wall at 62 . I stated that there was a ton of overhead resistance on the weekly charts between 60-65 . If oil takes out 55.65 on the daily charts I would get a sell signal on oil. I think then oil can retest the upper 40 area . I do not see any clear patterns on gold . As of now it is a wait and see. My course Pattern Recognition 101 is almost complete and I will keep you posted if anyone has any questions please call 203-617-4026 .
Dow Negative for the Year
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