It looks like the Russell 2000 ending diagonal got truncated… The HUI “Gold Bugs Index” has more to go.
I ended up buying TZA at $18.36. The market could do anything in the mean time, but for now it looks like the ending diagonal got truncated. This is my 4th time now this year timing the peak in the market with a leveraged ETF. Is this the time the market tanks and then the Fed comes in and saves the day on the 11th hour, 59th minute? When’s that going to be? we’ll have to wait and see.
I’am thinking that the Gold Bugs Index is in the later stages of a consolodation. The HUI has been consolidating for quite some time, just have to wait. Can’t yell and scream at the market and tell it to hurry up, the market does what it does. When the patterns and the Swing Trading Forecast Model align, that’s the time is to take action, it’s not 100% but it’s as close as I’ve seen.
Speaking of timing with 100% success, I was reading a sales pitch that said so and so had a system that was 100%. I didn’t even bother reading any more, maybe it was, but from what I’ve seen in the past 20 years it’s all hype.
So is this one of the little games the Fed is playing again? where they offer the kids candy only to take it away and watch the kids of the financial markets squirm, pout, kick and scream until they get the candy that they are so used to getting, probably. So when are the central banks going to come to the rescue on the 11th hour 59th minute? Is it possible that the Fed is going to loose credibility and anything they do will don nothing or are we going to see parabolic, hyperinflation.
You’ll have to come back to SwingTradingForecast.com to find out.
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