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Is McHugh ook niet de man van de fibo-turnday’s. Dan heeft hij deze potentiëlen ook wel …

 

McHugh berekent zijn turningpoints dus op andere wijze.

Vooralsnog ben ik niet ontevreden over mijn methodiek …. op naar de volgende ….

De weekend-update van McHugh:

Today's Blue Chip Stock Market Comments          

Deflation struck markets Friday, May 4th, with all major markets dropping, including commodities, some markets diving. This could be a kick off to a long awaited decline, but it should lead to an official announcement of QE3 around June/July, and one last rally before all hell lets loose on markets in late 2012 or early 2013.

We got new sell signals Friday in most indicators that were on buys Thursday, and now most indicators we track are on sell signals. The Demand Power / Supply Pressure Indicator moved to a new sell Friday. DP fell 6 points while SP rose 11 points telling us the decline was powerful with significant buying coming from the Plunge Protection Team to prevent an all out collapse in stock prices Friday. That is how bad the decline was going mid-day Friday. The PPT could not stop stocks from having their worst week of 2012. We expect prices to fall over the next several weeks. It turns out the intermarket Bearish divergence this week where the Industrials hit new highs for 2012 and none of the other major markets followed was meaningful after all. Could prices bounce early next week? Sure, but with new sell signals, we finally see significant downside momentum, which portends further decline.

Next to watch is our Secondary Trend Indicator, which came in at negative -1 Friday. A drop to negative -5 will trigger a new sell signal. That would be a significant confirmation and sign that a period of meaningful decline is starting. It would only take a minor down day Monday to trigger a new sell in the STI. This weekend's report covers the Primary Trend Long-term indicator. It too is showing deterioration.

There are several events we need to discuss this weekend that are having a strong effect on markets and should contribute to a return of market volatility and vertical trends.

First, let's cover the April Jobs and Unemployment report issued by the Department of Labor's Bureau of Labor Statistics. They reported that the Unemployment rate as of April 30th was 8.1 percent, which of course is nonsense. It fails to include 7.9 million people looking for full time work, but involuntarily settling for part-time work. Of course part-time work is a double whammy, low wages and no benefits. It also fails to include 2.4 million folks who want to work, looked for work in the past 12 months, but not the past 30 days. It also fails to include immigrants who are looking for work, but are here, living in this country, marrying, having children. If we add all this together, we are talking a real unemployment rate of around 20 percent. Then we need to consider quality paying jobs, which are not in this number. Full time employed folks at minimum wage, a wage insufficient to support a family. The entirety of this situation is dismal.

Now, to the interesting number. The BLS reported with a straight face that the economy created 115,000 new jobs in April. This number deeply disappointed markets. It is a number that failed to cover the breakeven figure of 150,000 needed to simply cover legal population growth, let alone eat into the ranks of the unemployed.

But wait, the 115,000 is vastly overstated. It was really a lie. The CES Birth Death adjustment in April was a whopper of a lie, 206,000. In other words, the BLS fudged the non-farm payroll actual counted number by 206,000, made it seem better by 206,000 than it really was. It means the economy actually lost 91,000 net jobs in April. The CESBD number is a guess of the number of new jobs the Labor Department thinks were created by new businesses they estimate started in April, they hope. But anyone starting a new business can tell you they do not hire many folks, and the ones they do usually work for nothing or far below normal wages. There is no way on God's green earth to count how many new businesses started in April. The figure is baloney.

This economy is headed back into the crapper.

On to Europe. We get elections in France this weekend. It is expected that a socialist government will be replaced by a communist/socialist regime, which should make things very interesting in the Eurozone. Austerity required by bond holders is going to be hard to get with a far leftist government in France. This could throw Europe into a depression, with European unity as it is presently constructed at rising risk of breaking up.

DJIA PPI -71.50 On a Sell

DJIA 30 Day Stochastic Fast  46.67 Slow 70.00 On a Sell

DJIA 14 Day Stochastic Fast  43.33 Slow 72.22 On a Sell

DJIA % Above 30 Day 46.67

DJIA % Above 10 Day 30.00

DJIA % Above 5 Day 6.67

Secondary Trend Indicator -8 to -1 On a Sell

Demand Power -6 to 369 Supply Pressure +11 to 386, Sell

McClellan Oscillator -86.00

McClellan Osc Summation Index +1,760.12

Plunge Protection Team Indicator -8.74 On a Sell

DJIA 10 Day Advance/Decline Line Indicator + 45.6 On a Buy

NYSE New Highs 54 New Lows 50    

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Today's Technology NDX Market Comments                

The NDX plunged Friday, after we noted in Thursday's newsletter that the internal condition of the NDX market deteriorated Thursday, with several new sell signals generated. Our short-term indicators deteriorated to a sell signal Friday, May 4th.

The NDX Demand Power / Supply Pressure Indicator remains on an enter short positions signal Friday, May 4th. On Friday, DP fell 6 points to 396 while Supply Pressure rose 9 points to 426, telling us Friday's decline was powerful with deep pockets intervention supporting prices.

The pattern is unclear, but the signals are clear – lower prices dead ahead.

NDX PPI + 43.26 On a Sell

NDX 30 Day Stochastic Fast  22.00 Slow 40.40 On a Sell

NDX 14 Day Stochastic Fast 20.00 Slow 49.40 On a Sell

NDX 10 Day Advance/Decline Line Indicator -8.0 On a Sell

RUT PPI + 59.96 On a Sell

RUT 10 Day Advance/Decline Line Indicator -114.9 On a Buy

Today's Mining Stocks and Precious Metals Market Comments           

The HUI fell below the bottom boundary of its 2 standard deviation Bollinger Bands Thursday, which is a set up for a forthcoming Bollinger Band Buy signal. This puts us on alert that an uptrend could start soon. Same for Silver.  Prices have dropped below the bottom boundary of the Declining Bullish Wedge, with the fifth wave {e} down approaching completion. New buy signals in the PPI and 30 Day Stochastic will tell us when wave 4-down is over and 5-up has started. Not there yet.

There is an excellent set-up now in place for a terrific rally to begin in Mining Stocks an precious metals. The HUI Purchasing Power and 30 day Stochastic indicators remain on sell signals Wednesday, April 4th. Once they turn to new buys, this could be a wonderful buying opportunity. The aging indicators show that this decline is old and a bottom is approaching. Not there yet.

Gold and Silver have not dropped to the bottom boundary of their triangles, so there may be more downside coming for them. They could be in wave {c} down, the last leg to complete 4-down. At this time, it is all about when we get the new buy signals in the HUI PPI and 30 day stochastic. Not there yet.

HUI PPI +243.68 On a Sell

HUI 30 Day Stochastic Fast 5.00 Slow 14.44 On a Sell

Best regards,

Robert McHugh, Ph.D.

De (v) is gezet.. het kan nu omhoog?

Zie ook de postings van Maarten, waarvoor dank.

Ik kijk ook even naar de Trin en de DJtrans

dus … boven de 313,4 dan weten we meer

Toevallig weer eens een EW-update op de blog

http:…..gspot.com/

De weekend-update van McHugh:

Today's Blue Chip Stock Market Comments          

The technical picture is moving more bullish short-term, as more signals moved to buys Friday, in particular the Demand Power / Supply Pressure Indicator. But, prices are rising toward the 2012 highs, which if exceeded would comfirm that wave five up is occurring, either of large degree 5 or smaller degree v-up. The Transportation average is finishing a sideways triangle which is a continuation pattern and in this case is bullish, meaning a continuation of the rally should start over the next few weeks. The NDX has had a bullish breakout above the upper boundary of the declining trend-channel. Most short-term indicators are now on buys for the major averages.

The key thing to watch this week is for a breakout above the 2012 highs in the various indices. If we get that, prices should rally another 5 to 10 percent over the coming weeks. Those upside levels to watch are 13,297.11 in the Industrials, 1,422.38 in the S&P 500, 5,384.15 in the Trannies, 847.92 in the Russell 2000 and 2,794 in the NDX.

There is a possibility large degree wave 4 is forming a 3-3-5 flat pattern that is just about finished its middle wave b, meaning a sharp decline is next to complete c-down of 4-down. We show charts for that pattern on pages 23 to 25.

Next week could be very helpful in revealing the short-term path for stocks. A vertical trend should start this week, ending the sideways malaise.

DJIA PPI -63.01 On a Buy

DJIA 30 Day Stochastic Fast  76.67 Slow 54.00 On a Buy

DJIA 14 Day Stochastic Fast  80.00 Slow 67.22 On a Buy

DJIA % Above 30 Day 76.67

DJIA % Above 10 Day 83.33

DJIA % Above 5 Day 83.33

Secondary Trend Indicator +2 to +20 On a Buy

Demand Power +4 to 383 Supply Pressure -5 to 369, Neutral

McClellan Oscillator + 135.60

McClellan Osc Summation Index +1,600.07

Plunge Protection Team Indicator -4.14 On a Sell

DJIA 10 Day Advance/Decline Line Indicator + 489.0 On a Buy

NYSE New Highs 201 New Lows 13    

Today's Technology NDX Market Comments                

The NDX short-term indicators remain on a buy signal Friday, April 27th.

The NDX Demand Power / Supply Pressure Indicator remains on an enter short positions signal Friday, April 27th. On Friday, DP rose 4 points to 408 while Supply Pressure fell 2 points to 412, telling us Friday's advance was mild.

The NDX rose decisively above the top boundary of the declining trend-channel we have been showing over the past week. The decisive breakout above this upper boundary is short-term bullish.

The decisive break above the upper boundary level indicates the early April decline was merely a small degree wave iv down move, and v-up of large degree 3-up is underway, meaning large degree wave 4-down has not started yet.

NDX PPI + 67.19 On a Buy

NDX 30 Day Stochastic Fast  49.00 Slow 35.20 On a Buy

NDX 14 Day Stochastic Fast 69.00 Slow 46.80 On a Buy

NDX 10 Day Advance/Decline Line Indicator +7.7 On a Buy

RUT PPI + 68.59 On a Buy

RUT 10 Day Advance/Decline Line Indicator +345.9 On a Buy

Today's Mining Stocks and Precious Metals Market Comments           

Prices have dropped below the bottom boundary of the Declining Bullish Wedge, with the fifth wave {e} down approaching completion. New buy signals will tell us when wave 4-down is over and 5-up has started. Not there yet.

There is an excellent set-up now in place for a terrific rally to begin in Mining Stocks an precious metals. The HUI Purchasing Power and 30 day Stochastic indicators remain on sell signals Wednesday, April 4th. Once they turn to new buys, this could be a wonderful buying opportunity. The aging indicators show that this decline is old and a bottom is approaching.

Gold and Silver have not dropped to the bottom boundary of their triangles, so there may be more downside coming for them. They could be in wave {c} down, the last leg to complete 4-down. At this time, it is all about when we get the new buy signals in the HUI PPI and 30 day stochastic. Not there yet.

Wave 5-up could last several months.

HUI PPI +251.46 On a Sell

HUI 30 Day Stochastic Fast 25.00 Slow 12.78 On a Sell

Best regards,

Robert McHugh, Ph.D.

De weekend-update van McHugh:

Today's Blue Chip Stock Market Comments          

Monday April 23rd is both a phi mate turn date and a Bradley model turn date. It is interesting that both independent cycle analysis methodologies are pointing to a turn on the same day. On page 31 we show that there is a possible Bearish Flag pattern in formation since April 1st, with the pennant portion of the pattern a choppy rising trend that looks nearly complete. Since flag patterns fly at half mast, the next leg should be an impulsive decline to the 1315 to 1340ish area in the S&P 500. This would argue that large degree wave 4 is forming a large sideways triangle or a 3-3-5 large flat pattern.

Most indicators remain on buy signals this weekend, however inside a triangle pattern the signals are subject to sudden whipsaw changes. What we really want to see for clear definition of the direction of the next multi-month trend is a rally above the April 2nd, 2012 high, 1422.38, or decline below the April 10th, 2012 low, 1357.38.

The McClellan Oscillator remains negative, meaning the majority of NYSE stocks are in declining trends, with the M.O. Summation Index dropping to positive +1,433.64. If the Summation Index falls below positive + 1,000, the probability of a plunge rises sharply.         

DJIA PPI -69.61 On a Buy

DJIA 30 Day Stochastic Fast  40.00 Slow 39.33 On a Buy

DJIA 14 Day Stochastic Fast  66.67 Slow 43.33 On a Buy

DJIA % Above 30 Day 40.00

DJIA % Above 10 Day 70.00

DJIA % Above 5 Day 56.67

Secondary Trend Indicator + 6 to + 6 On a Buy

Demand Power +2 to 367 Supply Pressure -2 to 381 on a Sell

McClellan Oscillator -24.11

McClellan Osc Summation Index +1433.64

Plunge Protection Team Indicator + 3.88 On a Sell

DJIA 10 Day Advance/Decline Line Indicator -32.1 On a Sell

NYSE New Highs 117 New Lows 30    

Today's Technology NDX Market Comments

The NDX short-term indicators remain on a sideways signal Friday, April 20th, with the Purchasing Power Indicator on a Sell Signal.

The NDX Demand Power / Supply Pressure Indicator remains on an enter short positions signal Friday, April 20th. On Friday, DP fell 2 points to 395 while Supply Pressure rose 2 points to 415, telling us the decline was mild.

The NDX rose slightly above the top boundary of the declining trend-channel we have been showing over the past week, and has fallen back inside the channel. This upper boundary level is important resistance. If it holds, the NDX should decline to 2,500 over the next week or two. A breakout above this upper boundary would be bullish.

A decisive break above these upper boundary levels would indicate last week's decline was merely a small degree wave iv down move, and v-up of large degree 3-up is starting now, meaning large degree wave 4-down has not started yet.

NDX PPI + 52.72 On a Sell

NDX 30 Day Stochastic Fast 31.00 Slow 35.20 On a Sell

NDX 14 Day Stochastic Fast 35.00 Slow 35.20 On a Buy

NDX 10 Day Advance/Decline Line Indicator -9.4 On a Sell

RUT PPI + 62.96 On a Buy

RUT 10 Day Advance/Decline Line Indicator -83.60 On a Sell

Today's Mining Stocks and Precious Metals Market Comments           

Prices have dropped below the bottom boundary of the Declining Bullish Wedge, with the fifth wave {e} down approaching completion. New buy signals will tell us when wave 4-down is over and 5-up has started. Not there yet.

There is an excellent set-up now in place for a terrific rally to begin in Mining Stocks an precious metals. The HUI Purchasing Power and 30 day Stochastic indicators remain on sell signals Wednesday, April 4th. Once they turn to new buys, this could be a wonderful buying opportunity. The aging indicators show that this decline is old and a bottom is approaching.

Gold and Silver have not dropped to the bottom boundary of their triangles, so there may be more downside coming for them. They could be in wave {c} down, the last leg to complete 4-down. At this time, it is all about when we get the new buy signals in the HUI PPI and 30 day stochastic.

Wave 5-up could last several months.

HUI PPI +250.07 On a Sell

HUI 30 Day Stochastic Fast 10.00 Slow 8.89 On a Sell

Best regards,

Robert McHugh, Ph.D.

Voorlopig de laatste EW-update hier.

De AEX blijft het impulspatroon mooi volgen. De zwarte iv is geplaatst op 311.70. Een zwarte v moet nu de paarse (iii) gaan afronden.

Volgens het ‘modellenboek’ krijgt de zwarte v op 299.5 de ideale maten maar elke koers onder de 304 voldoet al.

De beruchte failure is nu het enige dat binnen dit patroon roet in het eten kan gooien. Juist om die reden zijn elliotticains vooral geïnteresseerd in een 3 van 3. Daar zit het lekkerste stukje vis.   

Niet loyaal zijn aan één scenario is het devies.

De High van gisteren in de SPX is bijna een 0.5 correctie op de daling vanaf de 1422 naar de 1357. Aan de hoge kant voor een golf 4.
Daarnaast is – kijkend naar de interne structuur van de 4 – de C-golf verhoudingsgewijs aan de lange kant.

Ondanks dat …. de paarse (iv) kan geplaatst zijn.

Maar evenzo goed kan nu een geheel ander patroon ‘in play’
zijn. Zolang het synchroon loopt …. no problem …

SPX grotendeels in hetzelfde patroon als de AEX (of omgekeerd …).

Targetbox voor de paarse IV is ruimschoots gehaald. Keurige ZigZag als interne structuur waarbij de Target voor de C (C=A) aan de hoge kant ligt.

De (onzichtbare) gaps in de SPX worden key voor de validiteit van het patroon.

 

De target voor C=A (1384.6) is op het huidig niveau keurig binnen gesleept.

Loyaliteit aan een scenario dat nu al weer geruime tijd prachtige resultaten boekt is een doodzonde. Sterker nog ….. als je in een trade zit hoop je voor de profits stiekem dat de huidige C van een ABC doorloopt in een golf 3 van een impuls. Doorschakelen naar een ‘collega-scenario’ in dat geval ….. wanneer de sentimentgolven daar om vragen ……. gewillig meegaan.

Met dank aan RDS maakt de AEX er een Flat-correction van.
Nog steeds een zwarte iv ‘under construction’.

In ‘price and pattern’ voldoet de correctie aan alle voorwaarden. De afronding zou echter nog wel wat meer tijd in beslag mogen nemen …… we gaan het meemaken.

Pas boven de 316.x wordt voorzichtig gekeken naar bullpatterns.

Goedemorgen, de McHugh-update :

Today's Blue Chip Stock Market Comments          

Fascinating developments Monday, April 9th. Clarity is still lacking but what we can say is the lethargy of the past six months is ending now. We got a new sell signal Monday in the Purchasing Power Indicator, which means the three component indicators for our short-term key trend-finder indicator are now on a sell signal. We also got a new sell signal in the medium term Demand Power / Supply Pressure Indicator Monday. The intermediate term Secondary Tend Indicator moved lower to zero, and once it falls below negative -5, it will also be on a new sell signal. That could occur Tuesday if Tuesday is another down day. So, this is increasing evidence that a decline of significance has either started or is approaching.

On the other hand, there is the possibility that wave iv down is finishing now, and the final wave v-up is about to start, one more rally for the rise from December to a top for wave 3. What evidence is there for this scenario? Monday was a 90 percent down day, which usually is followed by a few rally days, which could reverse the above sell signals, and could be the oversold indication that wave iv down is bottoming now. We also see that the VIX generated a new buy signal set-up Monday, as it rose and closed above its 20 day two standard deviation upper Bollinger Band boundary. Once it falls back inside the bands, a new buy signal will be generated that could signal the start of wave v-up. Monday's decline came on very low volume, which is not supportive of further decline at this time. The shape of the patterns formed over the past several weeks does not look like an ideal top, but more like a sideways consolidation continuation pause, such as one would expect from a wave four. A decline in the S&P 500 below 1,340 would confirm large degree wave 3-up is over and 4-down has started.               

DJIA PPI -67.08 On a Sell

DJIA 30 Day Stochastic Fast 30.00 Slow 60.00 On a Sell

DJIA 14 Day Stochastic Fast 13.33 Slow 42.78 On a Sell

DJIA % Above 30 Day 30.00

DJIA % Above 10 Day 10.00

DJIA % Above 5 Day 6.67

Secondary Trend Indicator +0 On a Buy

Demand Power -7 to 359 Supply Pressure rose 9 to 381 Sell

McClellan Oscillator -234.17

McClellan Osc Summation Index +2,415.96

Plunge Protection Team Indicator -5.19 On a Sell

DJIA 10 Day Advance/Decline Line Indicator -326.4 On a Sell

NYSE New Highs 22 New Lows 60    

Today's Technology NDX Market Comments                

The NDX short-term indicators generated a new sell signal Wednesday, April 4th and remains there Monday, April 9th.

The NDX Demand Power / Supply Pressure Indicator triggered an exit long positions signal Monday, April 9th. On Monday, DP fell 4 points to 397 while Supply Pressure rose 4 points to 399, telling us the decline was moderate.

If a significant decline is starting we should start seeing more power behind the selling, with higher Selling Pressure readings than we have been seeing. The weak selling pressure readings makes the recent week's decline suspect, arguing it is a correction within a continuing rising trend. NDX volume was very weak Monday. Once a significant decline is underway, we should see volume rise on the decline. The fact that is not happening yet argues another rally leg may be coming in the short-run before the next significant decline of 5 to 10 percent or more.

NDX PPI +65.68 On a Sell

NDX 30 Day Stochastic Fast 39.00 Slow 60.20 On a Sell

NDX 14 Day Stochastic Fast 21.00 Slow 45.20 On a Sell

NDX 10 Day Advance/Decline Line Indicator -7.0 On a Sell

RUT PPI 63.91 On a Sell

RUT 10 Day Advance/Decline Line Indicator -371.20 On a Sell

Today's Mining Stocks and Precious Metals Market Comments  

Prices have dropped below the bottom boundary of the declining triangle, which may be morphing into a Declining Bullish Wedge, with the fifth wave {e} down approaching completion. New buy signals will tell us when wave 4-down is over and 5-up has started. Not there yet.

There is an excellent set-up now in place for a terrific rally to begin in Mining Stocks an precious metals. The HUI Purchasing Power and 30 day Stochastic indicators remain on sell signals Wednesday, April 4th. Once they turn to new buys, this could be a wonderful buying opportunity. The aging indicators show that this decline is old and a bottom is approaching.

Gold and Silver have not dropped to the bottom boundary of their triangles, so there may be more downside coming for them. They could be in wave {c} down, the last leg to complete 4-down. At this time, it is all about when we get the new buy signals in the HUI PPI and 30 day stochastic.

Wave 5-up could consume most of the second quarter of 2012.

HUI PPI On a Sell

HUI 30 Day Stochastic Fast 0.00 Slow 1.67 On a Sell

Best regards,

Robert McHugh, Ph.D.

Is McHugh ook niet de man van de fibo-turnday’s. Dan heeft hij deze potentiëlen ook wel …

 

Zijn volgende Phi Mate Turn Dates zijn : 23-04-12 (Minor) en 17-07-12 (Major).

De volgende Bradley Model Turn Date is 11-04-12 (Minor).

Bericht bewerkt 23:20 – 6 april 2012 door maarten

McHugh acht de kans groot dat maandag golf 4-down gaat beginnen :

Today's Market Comments             

The Non-farm Payroll figure for March that was released Friday, April 6th was not impressive. The Bureau of Labor Statistics reported a rise of 120,000 new jobs, but they fudged the number by at least 90,000 as the CESBD Birth Death adjustment which is an estimate, a pure guess, of new jobs they think were created by new businesses they think started up in March, was 90,000 of the 120,000. That means the true growth in jobs in March was no better than 30,000, woefully below the 150,000 needed to break even with population growth, and below what is needed to put the tens of millions of unemployed folks back to work. Stock futures hated the number as the Industrials Futures fell 131,000 and S&P 500 Futures fell 15.00 Friday, April 6th. Unless something changes over the weekend, this portends a big down open on Monday in the cash stock market. A big down day Monday would trigger new sell signals in all components of our short-term key trend-finder indicator as the Purchasing Power Indicator would join the 30 day and 14 day stochastic indicators on a sell. A down day Monday would also trigger a new sell signal in our medium term Demand Power / Supply Pressure Indicator. Down days Monday and Tuesday would trigger a new sell signal in our Intermediate term Secondary Trend Indicator.

New sell signals would mean wave 3-up topped, and 4-down has started. Wave 4-down could take two possible paths, either a large sideways triangle, or a 3-3-5 Flat which will be a significant decline but its third wave, its c-wave, would likely not fall much below its wave a-down bottom.

On Thursday, April 5th, the McClellan Oscillator had a very small change, suggesting a large price move is coming over the next few days.

It is also time to start paying attention to a possible coming Hindenburg Omen. Conditions are ripe for some observations, so we will keep an eye on this development. The H.O. is an indicator that warns conditions are ripe for a stock market crash.

DJIA PPI -63.41 On a Buy

DJIA 30 Day Stochastic Fast 53.33 Slow 68.00 On a Sell

DJIA 14 Day Stochastic Fast 33.33 Slow 47.78 On a Sell

DJIA % Above 30 Day 53.33

DJIA % Above 10 Day 20.00

DJIA % Above 5 Day 16.67

Secondary Trend Indicator +7 On a Buy

Demand Power -2 to 366 Supply Pressure flat at 372 Neutral

McClellan Oscillator -159.91

McClellan Osc Summation Index +2,650.13

Plunge Protection Team Indicator -5.42 On a Sell

DJIA 10 Day Advance/Decline Line Indicator -21.4 On a Sell

NYSE New Highs 58 New Lows 39    

Today's Technology NDX Market Comments                

The NDX short-term indicators generated a new sell signal Wednesday, April 4th and remains there Thursday, April 5th.

The NDX Demand Power / Supply Pressure Indicator remains on a buy signal Thursday, April 5th. On Thursday, DP rose 1 point to 401 while Supply Pressure fell 2 points to 395, telling us the advance was weak.

NDX PPI +69.45 On a Sell

NDX 30 Day Stochastic Fast 51.00 Slow 67.80 On a Sell

NDX 14 Day Stochastic Fast 38.00 Slow 53.40 On a Sell

NDX 10 Day Advance/Decline Line Indicator -0.6 On a Buy

RUT PPI 67.27 On a Buy

RUT 10 Day Advance/Decline Line Indicator -105.10 On a Buy

Today's Mining Stocks and Precious Metals Market Comments           

Prices have dropped below the bottom boundary of the declining triangle, which may be morphing into a Declining Bullish Wedge, with the fifth wave {e} down approaching completion. New buy signals will tell us when wave 4-down is over and 5-up has started. Not there yet.

There is an excellent set-up now in place for a terrific rally to begin in Mining Stocks an precious metals. The HUI Purchasing Power and 30 day Stochastic indicators remain on sell signals Wednesday, April 4th. Once they turn to new buys, this could be a wonderful buying opportunity. The aging indicators show that this decline is old and a bottom is approaching.

Gold and Silver have not dropped to the bottom boundary of their triangles, so there may be more downside coming for them. They could be in wave {c} down, the last leg to complete 4-down. At this time, it is all about when we get the new buy signals in the HUI PPI and 30 day stochastic.

Wave 5-up could consume most of the second quarter of 2012.

HUI PPI On a Sell

HUI 30 Day Stochastic Fast Slow On a Sell

Best regards,

Robert McHugh, Ph.D.

Is McHugh ook niet de man van de fibo-turnday’s. Dan heeft hij deze potentiëlen ook wel …