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By David A. Banister |
December 29, 2011
The market has been in the process of a near 13 Fibonacci week corrective rally since the Oct. 4 lows at 1074 on the S&P 500. Expect the market to complete this counter-trend ABC bounce during the Dec. 27-29 window.
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By David A. Banister |
December 5, 2011
Targets for the fifth and final wave of this suspected 13-year cycle of gold begin at $2,360 and we will update from there. Aggressive investors would be wise to get long the metal on this pullback, with a stop below $1,680 to be conservative.
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By David A. Banister |
November 2, 2011
Whipsaws in both the precious metals and equities markets are difficult to forecast and trade for most investors. However, gold has been moving in defined Fibonacci and wave patterns for ten years now, and has about three years left in a 13-year bull.
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By David A. Banister |
October 20, 2011
Copper has dropped 8% this week while the S&P 500 levitates on a magic carpet ride within a 30-point range. Copper looks like it has begun a fifth wave down, which will likely take it to the $2.70s per pound from $3.46 last week.
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By David A. Banister |
October 3, 2011
Bottom line is the S&P 500 has withstood a ton of pots and pans and bad news over the past eight weeks. The market tends to price in a soft patch in the economy way before it becomes evident in the data.
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By David A. Banister |
September 23, 2011
It is becoming more clear that the official pattern is ABC. In English it means that the first leg down from 1910 to 1702 was the "A" wave, the rally back up to 1920 was the "B" wave. The C wave is continuing underway
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By David A. Banister |
September 15, 2011
We are right now in some form of C wave. It's just a matter now of confirming if we are going to get a "D and E" wave to follow, or the C wave drops lower before we bottom. If we end up consolidating in a "Triangle", there's a target...
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By David A. Banister |
September 7, 2011
The fundamentals for gold are screamingly bullish, but the entire world knows that and it may be priced in for a while. Gold should consolidate those topping highs for a while to let the fundamentals catch up the price action.
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By David A. Banister |
August 22, 2011
Clearly, gold is overbought on traditional technical measures such as RSI, MACD, and Moving Averages and more, so that is one warning flag. To wit, gold historically pulls back pretty aggressively anytime it has run much above its 20-week EMA line.
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By David A. Banister |
August 17, 2011
The bear case is crowded, the bull case is not. I'm leaning bullish as long as I keep seeing this type of confirming price action. I'm watching 1165 on S&P 500 as a pivot low worst case, but as long as we see price action above that I like the...
