May 4

Weekend Outlook for 5th May 2014

So far so good – markets going up again this week as the bullish statistics pointed to and we are looking for a longer term top especially on SPX and Dow Jones sometimes this week.

1. Expect new all time highs on SPX and Dow Jones this week to mark an important longer term TOP in markets.

2. Expect COMPQ NASDAQ not to make new all time highs, but make a lower high as techs already started a correction. This top should occur this week before the sell off continues in techs.

3. Expect Gold/silver to rally higher after a bullish backtest , target still 1600-1700

4. Expect USD to tank hard with EURO breakout out to the upside, bullish for precious metals.

5. NYSI should make a bearish divergence confirming a major top in SPX and Dow Jones

Conclusion: All in all – I expect this week to mark an important top on SPX and Dow Jones as RUT and NASDAQ already topped out. I remain very bullish on gold/silver still in the months ahead.


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