Professor’s Comments Update 11/8/19

Posted by OMS  at November 8th, 2019

Gold is still having a rough time of deciding whether it wants to move higher or lower. The intraday up-down up action of the past few days is more likely associated with a corrective wave than anything else. Because of this, the Model is selling its shares of GDX and NUGT at prices near current levels.

The Dow and NASDAQ still appear to be in the late stages of final wave 5 up. I continue to see large divergences between price and breadth which is usually seen in a market close to a top.

h.

Not sure of the terminology we use? Check out these articles

The Hockey Stick Pattern
The Creation of Waves and Trends
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