The up move off of the October lows is now tiring, and stocks are starting the topping process ahead of a 40-week cycle low due in February. There is perhaps one last upward gasp for stock prices, then it is time for correction. Expect a low Dec. 30, then even more selling after a brief bounce.
Bonds should be the recipient of the money fleeing stocks; the next 6 weeks look very good for bond prices.
Gold prices, however, are going to continue to fall at least until late January. The blow off top has not yet been fully dismantled. Gold stocks should wake up soon and realize that gold prices are down over $40 from the high, and work hard to make up for lost time.
DOW Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
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