Market Outlook

Gold/Silver bearish daily chart strengthens.

 

Could be time for a (short covering) DOW/SP500 rally.

 

Rally starting tonight and should roll into the end of the week....


SPX back to 1300+ by end of the week, once the rally starts tomorrow the continuation of this rally will last for weeks.....just wondering what happens after June is done with and QE2 is over, Im thinking QE3!!!

S&P FUT
1275.50 9.30 +0.73%
DOW FUT
11958.00 73.00 +0.61%
NAS FUT
2234.00 14.25 +0.64%

 

rally will be through the night but thats it.

 

there will likely be a huge sell off tommarow after rally.

 

think temporary bottom is found. i feel this is just a dead cat bounce.

 

More USD sell pressure / equity buy support and basing.
(ie bullish for stocks) Bearish bigger picture won’t change though.

 

No doubt about it - the bearish euro daily chart is increasingly
influential over smaller time frames - thus USD strength continues.



------------------------------------------------------------------------
Commentators and economists who keep referring to the
'economic recovery' and to the GFC in the past tense - will
be proven wrong. Unfortunately the charts indicate GFC 2
will be worse. ~ Tues June 14, 2011
------------------------------------------------------------------------

 

I now officially declare the USD rally open for business.
And the opposite for Euro. Last 1.4230

 

It took a while... but USD rally has started and significant upside is expected.

S&P500 VERY BEARISH WARNING - http://bit.ly/jC0Sau - http://bit.ly/j79lD5