Jun 15

Weekend Outlook for 16th June 2014

Markets started finally to show us some selling , as the mid term election STATITSTICS tell us , the markets should sell off from now until late June. So it is very possible we still grind sell off lower , however I would expect a short term rebound on SPX and mkts befoer another leg down.

The same with the VIX , expect short term pullback on VIX before it rips higher this week , that means mkts could bounce early this week , probably into FOMC.

Gold traded higher and hit my 1275 target, I expect a pullback this week in Gold and silver before we rally higher.

COMPQ and IBB still below all time highs and I doubt they will be making new highs before next sell off comes. Biotechs looks topped out long term and COMPQ might also be on verge of another breakdown in the technogy sector.

Conclusion: Expect Gold and silver to pullback soon , with markets having an early rebound this week , probably into FOMC. After this I would expect another swift drop to downside in markets. The statistics tell us that markets should be seeing a sharp sell off now until late June.


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