Fate of Gold Stocks Near Term

Double bottom breakdown on P&F gold chart and High Pole Warning Flag suggest near term breakdown of gold and gold stocks.

After recent rally many bloggers neutral, IBD distribution days

"The session marked a distribution day for three of the four major indexes. The updated count now reads five for the Dow, four for the S&P 500 and three for the Nasdaq since Dec. 11. It's never a good sign when the market starts flashing multiple signs of selling in elevated volume. The Dow's five distribution days in the past 3 1/2 weeks raises questions about the health — and fate — of this rally." IBD 010509







Palisades Research gives 75% down probability for NDX for tomorrow (Tuesday)

NEW BULL MARKET CONFIRMED???

Under Dow Theory today both Industrials and Transports simultaneously broke above their preceding December peaks. Note the fibonacci support levels--is this a bear market rally---at any rate I will now trade the long side of the broad equity markets.