Once you're 19 to 21 weeks into an intermediate cycle and you see one of these set-ups where the market has, in this case, dropped four days in a row, it probably means that a top has formed. I think it probably has. I think we put in an intermediate degree top in the stock market. We had a bearish reversal Friday after the jobs report and that's not a very good sign, when the market can't hold the rally and gets rejected from the 10-day moving average, which has turned down.
Gary Savage is a 57-year-old retired entrepreneur living in Las Vegas. He has been investing in stocks and commodities for 15+ years. He is a self-made multi-millionaire and attributes his financial success to savvy investments made in owning/selling several businesses, real estate, and, more recently, the stock market. He is also an Olympic weightlifting champion, and world record holder. Gary’s stock market investment philosophy and success owes to an unusually disciplined and keen understanding of market cycles combined with cutting edge sentiment data which allows him to anticipate and articulate how larger trends are likely to unfold. His analysis is almost always in strong contrast to what the public is thinking – and, provocatively, several steps ahead of the crowd. Gary’s renown as a recognized trading/investment expert in the areas of precious metals, stock market, oil and currency markets is demonstrated by his numerous internationally published articles in these market areas. Gary publishes the Smart Money Tracker, a market newsletter available online by subscription only, and also the SMT free blog.
