|
UPDATE 03/12/07
STOCKS:
There hasn’t been anything unusual in the market
that would lead me to conclude that the bull market
has ended; although the line has been drawn at last
weeks low. If a bear market has started, then the
lows set just above 12,000 will be broken and will
lead to much lower prices. The 11,670 mark is still
the last support level that must hold in my opinion.
It
is still too early to say, but if the lows from last
week do continue to hold, a larger triangle pattern
may result over the next month. This would be a
bullish formation that will result in one final
rally to new all time highs later this year.
The
25 week cycle is due during the next 2 weeks and may
only result in a retest of the recent lows.
Resistance is at 12,300- 12,350. A typical retracement from the lows would be 12,420 – 12,520.
GOLD:
I
will avoid this market as long as prices are below $
665.
T BONDS:
June
bonds had one more advance last week above the 113 ˝
level as forecast, and have pulled back. I believe
this is only a correction that should be followed by
another advance over 114 before a more substantial
correction unfolds. Support is in the 112 to 112 ˝
area.
Regards and Good Luck,
Jay
Sanderson
TimingStock.com
To
see Jay's past Market Commentary and other products,
please click here
www.reliablestockcycles.com
________________________________________________________________________
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 | 
