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UPDATE 03/19/07
STOCKS:
It
is possible that the 25 week cycle low bottomed on
March 14th and is due again in early to
mid September of this year. The next cycle low due
is the 9 month in May.
There are currently mixed signals on the daily and
weekly charts of the DJIA. The daily charts are
oversold and showing momentum divergences while the
weekly is still pointing down.
The
institutional accounts were still short the S&P
through the latest reporting period, which ended
March 13th, the day before the low last
week. (Thus, it is not conclusive as to the positions
after the low took place on the 14.) On the other hand, there
was a lot of stock buying by the NYSE specialist.
The
Dow has stabilized, but still will need to close
above the 12,350 level to confirm a low is in.
GOLD:
April gold went down to the uptrend line on the
weekly chart and bounced higher. Still needs to move
above $ 660 to turn things more bullish. It is
possible that the XAU is forming a large complex
triangle from the highs in May 2006. If so, it will
take several months to complete and would lead to
one more advance to new highs above 170. The XAU
should stay above last week’s lows and below 150 to
verify a possible triangle.
BONDS:
I
remain positive on June bonds. There have been
several attempts at moving above the 113 ½ level
that have failed. I still believe that this level
will eventually be exceeded. Corrections shouldn’t
go much lower than the 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 | 
