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UPDATE 04/15/07
STOCKS:
The
markets are at resistance and they are testing the
prices of the last new highs that triggered the Feb
27th sell-off. There are two possibilities that
could happen; they would either start accelerating
higher or stall out and retreat into the next cycle
low due in May.
After a brief pullback, the Dow headed higher
Thursday and Friday. If the acceleration phase is
underway, new highs will be registered soon.
Otherwise, the above mentioned pullback may begin.
Either way, it appears that the mid March lows will
hold for most of the year. And the odds still favor
eventual new highs as the advance decline line
reached another new high last week, projecting
future strength in the market.
I am
expecting a significant decline to occur in the
fourth quarter of this year.
T
BONDS:
June
bonds have been in a correction for 3 weeks now,
losing 3 basis points. I will still give the longer
term bullish view the preferred status at this time.
Once this correction is complete, I would expect a
much larger rally to take place. There is support at
110 and 109 ¼.
GOLD:
June
gold continues to move higher and will have stiff
resistance at $ 700. The XAU has reached the upper
limits; if a triangle pattern is still unfolding. An
immediate move down below 140 would need to occur to
keep the pattern alive. Resistance is 150 to 155.
Any future moves in gold and the XAU to above their
previous 2006 highs would end the advances from 2001
and would lead to a multi year decline into the next
significant cycle low.
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 | 
