Back to the Future
One of the best things, being an independent trader/analyst, is that I don't have to conform. I make my own rules, trade my own models, and simply ignore the noise. It amazes me to read articles day after day and week after week written by well known experts of the financial world, why the markets will do this and that, because of this and that. So much focus is on the prediction of the future that many just do not see what is happening now. Does it not make sense that what is happening now has direct influence on the near future? For example:
Being a technical analyst, I do not have the capacity to debate over the fundamentals of the markets, I'll leave that to the experts. And frankly, I don't really care, there is a lot more to life than to be totally preoccupied with tomorrow's stories. I live in the present, and the current market condition will have a direct influence on the future, and this information is available to anyone who has a keen eye.
Gold - is in a bull market, and currently in an impulsive phase. As many traders say, buy the dips of a bull market. IP1, 2 3 and 4 are the dips, folks.
Crude oil - also in a bull market, and impulsive. IP1, 2 and 3 are the dips.
SP500 - officially in a bull market since 2004 according to my model, and IP1 & 2 are the dips.
NYSE - the big board. In a bull market since 2004, and there have been two stops to board this train also.
First, a little story.
Precious metals, energy, and the broad market are all in the middle of an impulsive phase of a bull market, all at the same time! This is very confusing to the experts, because according to conventional wisdom, it is almost impossible, because of this and that. Often, at social functions, I get asked by strangers what I do for a living. I say, I follow the markets. And every time, their response is the same, "what do you think such and such will do in the next few months?" And I say, "I don't know, that is why I follow the markets."
Markets are dynamic and subject to constant change, no predictions or forecasts can have any influence on the outcome, just follow them.
Peace and profits,