Today is day 14 of the new daily, intermediate, yearly and 4 year cycle. We are now in the advancing stage and should have several weeks of upside remaining.
Clearly stocks have pushed above the 200 week moving average.
The S&P is also showing some separation from the IC trendline.
We are on day 14. The market should move higher for at least 30-35 days. By then, stocks should be at the 200 day moving average and we should lighten up positions or sell all together and wait for the next daily cycle.
Gold also shows promise and has broken out of it's consolidation. I believe we could finally get that run to 1800.
Word of caution on gold. We have extreme bullish optimism now. Unlike stocks, gold is nearing the end of it's cycle. This is why I don't see much potential beyond 1800.
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