All the world is holding their collective breath! Will they? Or, won’t they? I say… I don’t care. I’ll update the timer, but it’s just about where we would want it to be in order for it to be saying, right along with its signal for stocks… that we’re really likely to get a relief rally out of this. The only factor I see as an unknown, is how loose, or tight, are they going to talk. No rate increase, or a 1/4 point now, and no idea when there might be another, would both work out well for us, I think. Really hard-line talk, like a quarter point now, and probably another in December, would really spark a sell-off, but it would be the capitulation sell-off to set up a rally. There is a monster amount of cash looking for some place to go, and it will go where it is treated best. It’s being treated best, right here, in the good ole U.S. of A.
So, let’s check the charts first. I have a lot of a little bit of green, and maybe a couple that went red. But, I’m almost certain support has held, and that volume was likely light again today. All the world is waiting….
First, those that rose on light volume: SGDJ, RGLD, SLV, GLD, CDE, SILJ, SGDM, HL, PVG, SSRI, FSM, PAAS and ABX.
And, three losers, these on light volume: SLW, GDX and AG.
All were on light volume. How light? The average volume for all 16 was 48% lighter than the 50-day average of volume. This, too, means everyone is holding their breath, watching and waiting. I am too, though I have loaded up. I’ve added all the shares I think I intend to. You can as well, or you can wait. If it’s a ‘good’ report, things will happen very fast! So watch for it at 2:15 pm EST. If I remember to, I’ll be there for it.
As for the timer, well, I updated it, and it’s not the best, or the strongest signal I could get, but it’ll do. I’ll take it.
Tomorrow’s the day! If I have any trepidation about it, it’s that it seems too many see it the same way I do, and the market has to stymie the most participants. If I couldn’t find another soul to see it as I do, I would be supremely contented right now!
Here’s to your accumulation of real wealth!
Harold F Crowell