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For some odd reason the viewership must think the Shanghai index might be a key index to watch as I have received a few dozen emails in the past 24 hours asking me to update this key index. Thank you for all of the requests, always honored to get them and glad to update the wishes of the viewership…keep the requests coming!!!
Shanghai index on a multi-year basis and Gold on a multi-month basis are working on taking out “weekly support lines” at this point in time. Could a breakdown in both of these reflect a “Just get me out of here attitude?” In 2008, when investors started really getting concerned, they started selling everything, even their winners.
If the U.S. Dollar can take out the top of the cup of the cup and handle pattern, odds move way up that the “Get me out of here” attitude will become a popular theme.