Two weeks ago I covered some indicators that helped us nail the bottom; today I’m presenting a couple indicators which are telling us a local top is likely being put in place right now.
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0 thoughts on “VIDEO: Using Indicators to Pick a Top”
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Good discussion. My work says that June 4th low of 1250 or so is likely, particularly since the volume suggests recently that there is a lack of buyers in each rally attempt. So when they can not push them up, they break them down. By the way, I still like gold, but at a lower entry point which I think will be in the 1500s. It will be propitious since there is some likelihood the Fed will keep pumping high powered money into the banks in the apparent belief that buying the long end of the curve will help some one.
Jason
Not that what I say means anything but I think you have nailed it. My models are calling for about a 2-3% decline from the Friday high.
Paul
I have no idea what your models are, but it’s interesting when two different analysis comes up with a similar answer. 🙂
Just to chime in with what Paul says, and with what Jason’s video suggests, I can see a pullback to spx 1384 here as well, which equates to about a 2.3% retracement as well. That will startle a few bulls since it breaks 1390, but it is what it is.