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UPDATE 04/29/07
STOCKS:
The
Dow has been unusually strong in the last few Weeks,
as some pointed out, it closed up in the last 19
out of 21 sessions. The last time similar to this
happened was in July 1929 a few months before the
major market crash (lets not spoil the party)
I
believe the markets will register a significant top
within the next 6 weeks. This top will be followed
by a mini crash decline into the fourth quarter.
The
hourly chart currently has support at the uptrend
line crossing at 13,000. A break would likely lead
to a move to 12,900.
T BONDS:
There isn’t anything new to add to last weeks
update. A close above 112 ¼ is needed in June bonds
to turn the trend more bullish. There were a lot of
longs liquidated recently by the commercials which
bears watching in the weeks ahead.
GOLD:
June
gold broke the uptrend on the daily chart, but held
support at $ 675. The weekly uptrend is still intact
running up through the $ 670 level. A move below
that could lead to a move below $ 650. Heavy
resistance remains at $ 700.
Regards and Good Luck,
Jay
Sanderson
Moshe Kahan
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 | 
