Stocks And Gold; The Next Opportunity
Unless you visit the Notes From the Rabbit Hole website regularly, you might think the title of this article implies it is written by a market analyst pretending to know what will happen; like a top in the stock market or a resumed bull cycle in gold. You might also think it is written by one of the writers who’ve either a) been fighting the stock bull since the bearish market terminated a year ago or b) been a perma gold bug bull.
So once again, we have our disclaimers because in a milieu of quickly forgotten soundbites, integrity is important. So I point you to a couple of posts (among many others) that indicated, when the time was right for people to get bullish the stock market in favor of gold.
From the July 22 NFTRH update, in the event you don’t wish to follow the link to read the whole thing…
Yesterday in a public post a target was established for the S&P 500. I’d love to see a drop toward 2100 to clear over bullishness but regardless, SPX targets 2410 as long as it’s at or above the noted support zone.
Here is the price panel of the chart from that update…
Indeed, SPX went on to make a hard test of 2100 on election jitters, as you can see by today’s version of the very same chart. That folks, was the last opportunity for those who had remained bearish after Brexit, to stop being so.
Sure, I tout this stuff to show that NFTRH has nailed the markets over the last year – and indeed, through the preceding bear phase as well – but I also tout it because today I am writing an article that looks ahead to the changes that I think are coming and it is important for the reader to know that this is not written by a perma bear clicking the heels of his ruby slippers hoping that this time, finally, he can go home.
The target was and is 2410. The target will be wrong (either too low or too high) because what are the odds that the S&P 500 is going to just stop on a dime at a measurement made by someone who knows how to add and subtract? I mean, I’d love it because then I could pretend to be like the gurus whose marketing machines routinely bombard you with ‘broken clock’ calls that finally worked out. But functionally, I’ll take any number that is close and as of this morning, we’re 63 points from SPX 2410. So we are in essence, just about there.
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Disclosure: Subscribe to NFTRH Premium for your 25-35 page weekly report, interim updates (including Key ETF charts) and NFTRH+ chart and trade ideas or the free eLetter for an introduction to our work. Or simply keep up to date with plenty of public content at NFTRH.com. Terms of Service available here https://nftrh.com/about-tos/terms-of-service/less