When I think back on 2008, Steve McQueen and the movie “Great Escape“ comes to mind, per the vast majority of investors wanted to escape from the majority of their holdings. 2008 was a year that investors found very few places to hide! (Government bonds and the Dollar moved higher, yet almost everything else declined!?
Is a “Great Escape” mindset taking place or about to take place again? Check what is taking place in the metals 4-pack below!
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3 of these 4 metals has broken key support lines of late, with Silver having its greatest 3-day decline since 1983! Was “Harvesting at resistance” important in the above 4-pack???
See harvesting suggestion/Quiz that looks to have pegged the short-term high to the day! (see post here)
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The S&P 500 has reached a key Fibonacci level while creating a rising wedge pattern that gives it a two-thirds chance of declining in price. Not only is the pattern in the 500 index something to respect, the other 3 key markets have created patterns to respect as well!
Yesterday I created a post reflecting that the “Power of the Pattern” has created a situation that gives the Dollar a two-thirds chance of moving higher. (see post here) Watch the U.S. Dollar very close! If it does break from this bullish pattern, odds increase sharply that an “escape from many assets classes” will be at hand!
Game Plan…. If support is taken out in the above equity 4-pack, the odds sharply increase that a “very large great escape” will be at hand. See how a person can attempt to position themselves with this situation at hand. (see post here)
