Good day guys! This is just an update in regards to the position that my team and I are currently holding. In my previous chart, I highlighted how the technicals would be looking to create a rising wedge before continuing to the downside. As of today, the markets are revealing just that. With over 1200 pips and counting, we are still looking for the markets to continue to sell off, because the US government needs the value of gold to be lower for the dollar to strengthen. I mentioned this in my latter post as well, I believe this is going to be the final push to the down side before gold takes off to unprecedented levels before bottoming out. Understand this, Jay Powell and the Fed has come out this previous week to try to calm the markets, but verbally stating, "this is unsustainable." He was referring to the money machines going rapid and inflation moving to higher levels. I believe a top is looking to form in the stock market. This is not financial advice, for I am not a financial advisor registered with he SEC. I do believe in transparency. Therefore, I have began shifting my portfolio to the emerging markets, gold miners, commodities, etc. However, I have learned not to bet against the fed, for they can print whatever and the markets loves debt. We do appreciate you for checking out our post and remember, we will see you on the other side.
Rodrick (CEO)
Third Eye Traders
Rodrick (CEO)
Third Eye Traders