The Trend Is Your Friend - But WHICH Trend?
By Jon S. Strebler
The trend is your friend. Great, but WHICH trend? The past few weeks have got me thinking about that. In the short-run, I’m tormented and impoverished by what’s been going on with the precious metals, stocks, and the US dollar. Gee – now that I think about it – that’s going 0 for 3 as they say in baseball. Not a good thing. But if I step back a bit and take advantage of the perspective of time, things look somewhat different. Let’s do that little exercise for the three markets that, at least for Americans, matter the most, and try to come away with some kind of wisdom.
Starting with US stocks, the daily S&P 500 chart has turned down after making new all-time highs; below its 50-day MA and generating a negative crossing on the MACD indicator shown below the main chart. This is not the kind ... Log in or subscribe to continue reading.
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