A big drop for Nikkei today. Down -3,3% and 6,2% for the week. Futures contracts expires and there are some Ukraine ans slowing China growth fear. U.S indices sled yesterday too. All the European markets are also down today.
Is this the beginning of the end? Yes, but I don`t think the market will crash now. We are in a stage three-phase which have started now. We see markets are going up but at the same time we see fewer stocks participating in the bull market.
This is what happens in a bull market when it comes to an end. The final leg can go on for months, so it is not expected to see the bear to attack yet. This is the reason why I am not buying U.S stocks now. It`s late in the party.
But if I`m righ, I have recognised a new party that have just begun. It hit the bottom at the end last year, and now we see it above 250, which is a good sign. 50 MA have not crossed the 200 MA yet, so we have to be cautious.
What I am talking about is the gold bugs. I like what I see, but I am very sceptical at the same time, or let`s say still less bearish. I follow this market every day and I know that most of the people in this business are not so positive and that bother me a bit.
|08:30 AM ET||PPI m/m|
|08:30 AM ET||Core PPI m/m|
|09:55 AM ET||Prelim UoM Consumer Sentiment|
|09:55 AM ET||Prelim UoM Inflation Expectations|
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