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Hello everybody. Interesting times again in the markets. Most of our cycles remain on track. Let's take a look on the prospects for the coming months.
Nasdaq
Current level: 2532 The Nasdaq has held up till July, but seems to be falling off a cliff now. Chinese cycles pointed to lows in March and in August/September for this year, and here we are. Now that the two year uptrend is broken, we would look for 2100 2300 as a probable bottom area. For October/November our cycles suggest a rebound, but by December/January we may be testing the lows again, as that are the next upcoming Metal months. So, it's too early to jump in. Wait till September or even December to start looking for bargains. Don't try to catch a falling knife.
Gold
Current level for XAU index: 196 Gold stocks continue to go largely sideways, even though the price of gold is making new highs again. October/November is the next Earth months bottom period for Gold stocks. We may get a chance to buy around 150-170 on the XAU. So just be patient.
Euro US dollar
Current level for Euro-US$: 1.42 The Euro has shown the expected strength into summer, and now I think it is ready to give back those gains. On the chart we see a multi-year pattern of lower highs and lower lows. If the Euro drops below 1.40 then a one year uptrend would be broken, probably leading to a downturn. Targets are 1.30 and then 1.20 If 1.20 doesn't hold, then look for parity with the US$ one or two years down the road. The next Water months bottom period is coming up by February/March 2012
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Feel welcome to visit the Four Pillars Finance blog, where you can give comments or ask questions: http://fourpillarsfinance.wordpress.com
LunaticTrader
For more short term stock market direction based on moon cycles, visit our Lunatic Trader site and blog. There we offer our weekly comments. http://lunatictrader.wordpress.com http://lunatictrader.com
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