A PAUSE IN THE ACTION–PULLBACKS COMING FOR STOCKS AND METALS
Markets are getting stretched out Silver has an upper pattern completion at 3303 and Dec. gold at 2678 or max 2694. Patterns suggest that we could start a 7 week pullback in gold to 2440 and on silver to 2850. Its hard being short with geopolitical tensions but there are reasons to take partial profits with patterns and price and time coming in.
The Stock market is also a bit stretched out. NQ futures could do a bit more but many Megacaps have completed first patterns to 195 for Amazon and 573 for META and 254 for Tesla and NVDA is close to 122.00. We do expect the S & P cash to at least pullback 100 points from max. 5755 but it could stall lower and we doubt that 5605 will come out on pullbacks into the first week of October.
Bitcoin is also due for a pullback with the energy complex. While the bull markets are not done on these, they are due for a pause. Stay in touch with our daily service for new entries and new projections for the seasonal October rally. Is there hope after the election? How long can we keep peace going with world tensions rising.
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