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Market Not Healthy

By Richard Russell

 

Today, the Dow has again failed to close above 18,000. I connect this with six distribution days on the S&P and five on the NASDAQ. The stock market does not look healthy at this time. With 45 minutes before the close, gold is down to 1220.80. 1300 appears to be doubtful based on the way gold is acting. 

 

The US dollar has been loved as a safe haven. The dollar is now heavily overbought and is due for a correction. Ironically, the gold mining stocks are as hated as the dollar is loved. I believe that selling the dollar and buying the gold stocks makes sense at this time.

On a new subject, I find myself lonely and in want of companionship. Therefore, if any subscribers would like to drop over and have a conversation with me, I would appreciate the company. Please email me at staff@dowtheoryletters.com, and tell me a little ... Log in or subscribe to continue reading.


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