Feb 21

Weekend Outlook for 23th February 2015

Markets at all time highs yet again and as mentioned , I was wrong on the previous highs and did not expect mkts to break it. However I still think we are at a “major bull market” top area now and I dont see much upside in US markets.

If i’m correct mkts is topping out now in a major bull market top and we might be about to start a new bear market from here.

With this I expect Gold has possible formed a bear market bottom and a new bull market in Gold could occur.

All in all:

1. SPX likely to see last push up to 2120-2130 and hit the trendline , but expect mkts to top out here in this area before a sharp sell off occurs in a start of bear market.

2. Gold likely to see a bit more downside , possible down to 1170-1180 trendline support before taking off again. So expect some more weakness in Gold but buy that dip as I think its setting up for another rally higher

3. Natgas as predicted bottomed 2.5-2.6 and setting up for a multi month rally higher

4. DAX also likely to top out one a final push higher then sell off to start in EU too.

Conclusion: The conclusion is that everyone is now bullish mkts and think nothing can make this mkts fall down , it happends everytime we are topping that people are bullish , at the moment I believe we are about t see a very sharp sell off again and a possible BULL MARKET top ending here.

Time will tell coming weeks what will be right , but if we start a sell off sharply from here , this could mark the bull market top.

 

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