He questions what central banks will do the next time debt structures begin to break down. These momentum structures are likely to be resolved next year. The markets can’t afford a drop beyond a few percent. He details some specific targets on the downside which if reached would break long-term structures. Michael feels we are in a topping pattern for the markets. There seems to be some money moving to safer assets. These bonds are also the least influenced by the Feds’ actions. The thirty-year treasuries are the most illiquid and are behaving like gold. Silver is in a similar pattern to gold but needs to reach $25.37 on a weekly close to trigger a move higher. Michael believes the movement in gold last week was just the start of another bull run. Tom welcomes Michael Oliver back from Momentum Structural Analysis.
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