This week the market is putting another bar in the Weekly analysis which has been guiding this blog since soon after the Wave 2 Top shown, circa late summer of 2008. Each new bar has brought the weekly stochastic just so much closer to its pending SELL SIGNAL. It's not a matter so much of if anymore, it's a matter of when. Now, the fundamental backdrop of a deadly global flu pandemic is filling the "How & Why?" pieces of the puzzle.
Doesn't look like prices will reach the upper channel, but that possibility is out there, just in case. Looks to me like one, maybe two bars to go and everything comes together in one heck of a global panic.
A
3 comments:
The spread of a possible flu pandemic could see an increase in already heightened levels of government intervention in economies and financial markets as a result of the global financial crisis.
In the short term, it might serve to give governments an easy justification to impose protectionist measures that could further stifle slumping trade flows.
Doctors and officials around the world are moving to contain the spread of a swine flu outbreak that has already killed more than 100 people in Mexico and spread to countries around the world, with markets already reacting nervously.
"At the moment, markets are still making the assumption this will not be that serious," said Dresdner Kleinwort emerging foreign exchange strategist Jon Harrison.
"But if it were to turn out much worse you would see a rise in government spending and government intervention. This sort of crisis would be too big for anything other than governments."
http://www.alertnet.org/thenews/newsdesk/LR454443.htm
Allan, great call on the flu basket! I may sample some of the others if they come down a bit, but today I decided to just hang on to the NNVC I already had .... I think this one's got a long climb ahead of it in the weeks/months to com.
Wayne
(p.s. now THAT's my kinda music!!)
Hi Allan, how are the daiky charts looking? it is a long way to complete the weekly bar.
Thanks for your input..
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