Another more wholistic technical view is that the S&P 500 and Dow are due for another crash after the current bear market rally. I thought the 7% drop the other day may have been the first leg down , but nothing since so may take a bit longer and I think it will drop at least 30% and I expect gold stocks to sell off about half this drop, maybe 15%.
But this will then be when I am putting my cash to work. Gold stocks have a long way to go in an upward direction as the gold price rockets on a weak US dollar and continued unabated money printing by the Fed and I will take advantage of discount prices. Got to love a sale.
Will also buy some more solid stocks that have not been too affected by the virus.
Now I could be completely wrong, but I do believe that the market has disengaged from economic reality..
Christopher
RMS Chart, page-33
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Last
$1.94 |
Change
0.075(4.02%) |
Mkt cap ! $2.220B | |||
| Open | High | Low | Value | Volume |
| $1.90 | $1.94 | $1.88 | $6.442M | 3.348M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 13041 | $1.93 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.94 | 44693 | 3 |
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| Last trade - 16.10pm 31/07/2024 (20 minute delay) ? |
| RMS (ASX) Chart |