Since, I wrote on A Crash in Progress, world markets and bullions and metals have remained up, some have even scaled new highs and some remained sideways.
Yes, It happens, sometimes market surprises you with counter cyclical trend with temporary aberrations but that does not change the trend.
Fundamentally, technically and even cyclically all indicators still point towards downside in asset classes may it be Gold, Silver, Metals, Equity markets or Agri commodities and currencies except dollar and China.
Yes, after recent decline Dow may go up a bit and may form a new high and even European markets may follow the same path but I will not buy.
Silver has made new high. But, I believe it’s a trap. Silver making new highs without Gold scaling new highs is a trap. History suggests this.
From the level, I thought Dollar will shoot up – Dollar came down from that level and now trades very close to recent low. But, Dollar has not lost strength.
Euro on the other side has tested its upper channel but with huge weakness. Hence, Do not be surprised if Euro experiences sudden downfall.
Oil has gone up suddenly with unrest in Arab nations. But do not buy, it is temporary aberration in short term downtrend.
I believe the current downtrend will continue till mid of April to Mid of June with downside target of 16000. Market may show positive bias for next few days before downside resumes.