Market was very oversold. It will take a lot more to turn the trend up. Stay tuned. Here is the daily RWB chart.
Dr. Wish
Dollar falling, gold rising and rising bonds suggest lower interest rates
Dollar down, gold up and bonds are up. Rates are likely peaking. Check out the daily RWB pattern in the 20 year bonds.
And the 1-3 year treasuries.
Gold is rising.
As dollar weakens.
Time for cash
The market remains incredibly oversold. However, with the GMI at 0 (of 6) and still on a Red signal, it is time for me to remain in cash.There are few times since its inception in 1986 that the Worden T2108 has been below 6%. It closed Friday at 5.65%. Only 62 US stocks (of 4929) have a daily and weekly RWB chart pattern (see glossary for definitions). That is a ghastly statistic!
