Mar 23

Weekend Outlook for 24th March 2014

Markets so quite a sideways week , with mkts hoovering between 1840 and 1880.

The thing is after a big rally higher and a SIDEWAYS move , is USUALLY bullish. This means I would expect new all time highs coming up and a rally into mid 1900s before we see another top in markets.

For now I’m staying bullish still as long SPX holds 1840 quite simple. I think a massive rally higher coming in the coming weeks ahead.

Also I mentioned Gold was due for a pullback, we catched it and got long DUST/JDST for some good gains , and reloaded gold miners near the lows late this week. I expect gold to see another massive and sharp rally higher from here and most likely getting into the 1500-1600 into this summer 2014.

Conclusion: So all in all – keep it simple as long we hold above 1840 I see no reason to be bearish mkts , I see it much more likely a grind higher in mkts to new all time highs and a pretty good move into 1900s before we see another short term top. Longer term this bull market still has some legs left , but we are now 5 years into this bull market and I would expect it to be near the end of the 2009 bull market rally. But for now , stay bullish near term.

 

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