Below, this awful chart shows the Dow issuing a sell signal with a P&F target price of 14,950. Note that the projected target price is below the rising trendline. The Dow plunges below a head-and-shoulders top in this bloody chart.
Below, the Dow is falling below its trading range and is about to test its 200-day moving average. RSI is becoming oversold and MACD is bearish. For the first time the Dow is below its 200-day MA.
So far, the Russell position of being on the sidelines (no equities) and gold bullion has been the correct stance.
Question: Russell, you seldom mention the economy and business news. Why is that?
Answer: I think talking about the economy and business, in our industry, is a waste of time. You can read all that in the daily newspapers. I grew up thinking that the function of the market is to discount the future, including trends in ... Log in or subscribe to continue reading.
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