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UPDATE 03/05/07
STOCKS:
As
mentioned in last weeks update that “Based
purely on Market cycle forces, the markets should
top-out in the beginning of March”, (We were off
with a few day's) Needless to say the market did
correct,
the question now is how long this correction will
last? And how low can it go?
An
acceptable retracement from the 12,800 high would
come in just below the 12,000 area. And as long the
market is not breaking the 11700 level the bull
market is sill intact. As for the length of the
correction, it is possible that this can be over
the next few days or it will last into the June
cycle lows. If that were the case, the Dow will
probably form a triangle pattern. If so, it would
lead to one more rally to new highs this year and
also would conclude the advance from the 2002 lows.
GOLD:
April gold rallied up to the $ 690 level and
collapsed losing over $ 40 for the week. I will
stand aside as the price broke the $ 665 level I
mentioned last week. Until the commercials unwind
their heavy short positions, this market is
vulnerable for further declines.
T BONDS:
March bonds continue to move up as forecast. I
believe one more advance above the 113 ˝ level is in
store to be followed by a correction and then
another rally. I will switch to the June contract in
the next update.
Regards and Good Luck,
Jay
Sanderson
TimingStock.com
To
see Jay's past Market Commentary and other products,
please click here
www.reliablestockcycles.com
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Commentary Archives
Long term cycle is bullish -
1/06/07
Next Cycle Low is due In March
-1/27/07
Market still positive -
2/05/07 | 
