Gold & Index Day Trading Analysis Video

Friday April 9th
It’s been a relatively slow day in the market as Fridays usually are. I am most likely sounding like a broken record about gold and the indexes but I will show you again just to make sure that everyone’s on the same page for the upcoming correction.
In short, major indexes and metals are way overbought and ready for a pullback which will most likely be sharp. I feel a 3-5% correction is just around the corner. Both the broad market and precious metals are about to have their cycles turn align and top out. Meaning a wave of selling is likely to hit the market.
Adding more fuel to the selling is the fact that earning season is about to start and I do not think it matters what the news for the market will sell into it. Everyone thinks stocks are doing well which is why we have seen the strong rally the past 2 months. This is the typical buy on rumor sell on news which we saw last January on the good earning numbers. But if the news is bad, then I figure people will sell that news also.
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Daily Gold Cycles Trading Chart




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