What about Gold and silver?
The Stock market Bull is charging on with no sign of retreating. As being pointed out that if you still want to remain in the party but make sure you prepare to be the first one to exit anytime from now. I personally is taking major profits now and prefer to leave the last bit of profit to others.
The question right now is “where is the peak”? Based on Lindsay’s ABCD methodology, I would expect the DOW to hit 14590 before it takes a breather. With a little bit of extension, it would reach 14990. For those who have the the power to hold the short position, these are two excellent points to consider entry for shorting with tighter stop loss.
Longer term investors ( if decide to take profits now) , should patiently wait for the looming correction to occur and complete before making a new entry.
What about Gold ? last night, The World Gold Council advised central banks in many countries to diversify from holding primarily the U.S. dollar as reserve assets. Are you surprised when they said countries should own more gold as reported via CNN Money? Certainly, I am not.
Technically , gold and silver is showing some short term strength. I'm foresee higher prices over the next 3 months due to my cyclical studies and seasonal factor. As long as 1552 hold, I expect the price to push through 1600 soon.