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UPDATE 05/13
STOCKS:
If
the one day correction is already complete, then the
DJIA should register a new high early this week.
This would then be followed by a more substantial
correction lasting several weeks. A cycle low has
been due in May with longer term cycles due in the
fourth quarter.
The
other outcome would be for another down leg to begin
Monday taking the DJIA back towards the 13,200 area.
Once this leg is complete, new highs would follow
later this month.
Either outcome will lead to new highs, so the trend
is still up for now.
BONDS:
The
up move I was expecting last week was short lived as
prices fell late in the week. Until a close above
112 ¼ occurs, the June bonds will be range bound
between 110 and 112.
GOLD:
June
gold still hasn’t moved above $ 700 or below weekly
support. A close above $ 700 will result in a move
back towards $ 770 and a close below the weekly
support will result in a move below $ 650.
I
did re evaluate the XAU and still find that a
triangle formation is an acceptable pattern. If so,
the low at 135 may have marked the end of this
formation with the next rally phase already
underway.
A
break out of this formation to the upside will
result in a move above 180 later
this year
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 | 
