{"id":223,"date":"2010-05-18T11:34:36","date_gmt":"2010-05-18T15:34:36","guid":{"rendered":"http:\/\/www.silver-investor.com\/blog\/?p=223"},"modified":"2018-06-10T10:58:21","modified_gmt":"2018-06-10T10:58:21","slug":"an-update-on-the-gold-bull-market-and-the-sp-500-index","status":"publish","type":"post","link":"https:\/\/www.themorganreport.com\/blog\/an-update-on-the-gold-bull-market-and-the-sp-500-index\/","title":{"rendered":"An update on the Gold Bull Market and the SP 500 Index"},"content":{"rendered":"

Back in the third week of April I predicted here on Kitco.com a topping in the broader market indices<\/a>.\u00a0\u00a0\u00a0 The theory was the VIX levels were extremely and historically too low concomitant with extremely high historical readings in investor bullish sentiment gauges.\u00a0 After thirteen Fibonacci months of a bull cycle rally, it was likely an A B C correction to the downside would begin. In further follows ups on TheMarketTrendForecast.com service I run on April 20th<\/sup>, I again outlined concerns with falling volumes on small cap stocks and too many \u201cstories\u201d being run up too far ahead of the economics.
\nAt this point in the Bull market, it is common to have the crowd of investors move from a bias towards viewing all news as positive, to a negative slant on all news.\u00a0 Nothing has changed dramatically on the problems the world had before with Debt and currencies, but the reaction to those events turns negative.\u00a0 This works off the overly optimistic Elliott Wave patterns of the crowd, turning into a typical Zig Zag correction that lasts several months.\u00a0 There will be trading opportunities between that Mid-April topping forecast and my forecast for a bottom around mid-September.\u00a0 However, as recommended in April, Index investors and mutual fund investors should have been moving to the sidelines. I am looking for the SP 500 Index to drop to the 920-970 areas by mid-September before the next leg of the Bull market takes off.\u00a0\u00a0 Now, the one caveat to that forecast is actually a lot more bullish.\u00a0 If the SP 500 can hold the 1100-1110 areas and pivot up strongly, we could move on to new highs.\u00a0 I put the likelihood of that around 20%, so be on guard. A counter-trend rally up in the next few weeks is highly probable, but the evidence continues to suggest working our way down into the 900\u2019s in the SP 500 before the Bull resumes in earnest.\u00a0 We are selectively buying Gold and Biotech stocks in the Active Trading Partners service as well.
\nGold has continued higher confirming my April 20th<\/sup> forecast on http:\/\/www.themarkettrendforecast.com\/<\/a> a move from 1125 to 1235 in Gold.\u00a0 The Elliott Wave patterns remain extremely bullish for Gold to continue a 13 Fibonacci year cycle up into 2014.\u00a0 Gold has formed a very bullish pattern intermediately for a move to $1470-$1550 at the next major pivot top.\u00a0 In the interim, I expect continued consolidation in and around my $1,235 US levels before the next pivot high at $1300-$1,325 US.\u00a0 Fiat currencies are burning matches as foreign governments and other entities continue to attempt to put out a fire by printing more paper and covering the same fire with it.\u00a0 Until the analysts on CNBC stop questioning the validity of Gold and start questioning the validity of Fiat Paper, the bull will rage onwards with most of the pundits watching the caboose from the back of the tracks.
\nSP 500 Forecast from the Mid-May TMTF forecast service updates:
\n\"\"<\/a>
\nGold Forecast is for $1570 over 6-9 months with pivot at $1300<\/strong>
\n\"\"<\/a>
\nCheckout my forecasting and trading services at http:\/\/www.thetechnicaltraders.com\/<\/a>
\nChris Vermeulen<\/p>\n","protected":false},"excerpt":{"rendered":"

Back in the third week of April I predicted here on Kitco.com a topping in the broader market indices.\u00a0\u00a0\u00a0 The theory was the VIX levels were extremely and historically too low concomitant with extremely high historical readings in investor bullish sentiment gauges.\u00a0 After thirteen Fibonacci months of a bull cycle rally, it was likely anMore<\/a><\/span><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[121,89],"tags":[],"yoast_head":"\nAn update on the Gold Bull Market and the SP 500 Index<\/title>\n<meta name=\"description\" content=\"An update on the Gold Bull Market and the SP 500 Index\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.themorganreport.com\/blog\/an-update-on-the-gold-bull-market-and-the-sp-500-index\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"An update on the Gold Bull Market and the SP 500 Index\" \/>\n<meta property=\"og:description\" content=\"An update on the Gold Bull Market and the SP 500 Index\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.themorganreport.com\/blog\/an-update-on-the-gold-bull-market-and-the-sp-500-index\/\" \/>\n<meta property=\"og:site_name\" content=\"The Morgan Report News\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/pages\/The-Morgan-Report\/317004435015437\" \/>\n<meta property=\"article:published_time\" content=\"2010-05-18T15:34:36+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2018-06-10T10:58:21+00:00\" \/>\n<meta property=\"og:image\" content=\"http:\/\/www.silver-investor.com\/blog\/wp-content\/uploads\/2010\/05\/5-18-101TMTF.jpg\" \/>\n<meta name=\"author\" content=\"David Morgan\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@silverguru22\" \/>\n<meta name=\"twitter:site\" content=\"@silverguru22\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"David Morgan\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.themorganreport.com\/blog\/an-update-on-the-gold-bull-market-and-the-sp-500-index\/\",\"url\":\"https:\/\/www.themorganreport.com\/blog\/an-update-on-the-gold-bull-market-and-the-sp-500-index\/\",\"name\":\"An update on the Gold Bull Market and the SP 500 Index\",\"isPartOf\":{\"@id\":\"https:\/\/www.themorganreport.com\/blog\/#website\"},\"datePublished\":\"2010-05-18T15:34:36+00:00\",\"dateModified\":\"2018-06-10T10:58:21+00:00\",\"author\":{\"@id\":\"https:\/\/www.themorganreport.com\/blog\/#\/schema\/person\/2f153b749f1b9c4e76eacf9ee3cc046a\"},\"description\":\"An update on the Gold Bull Market and the SP 500 Index\",\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.themorganreport.com\/blog\/an-update-on-the-gold-bull-market-and-the-sp-500-index\/\"]}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.themorganreport.com\/blog\/#website\",\"url\":\"https:\/\/www.themorganreport.com\/blog\/\",\"name\":\"The Morgan Report News\",\"description\":\"Helping You Build And Preserve Wealth\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.themorganreport.com\/blog\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.themorganreport.com\/blog\/#\/schema\/person\/2f153b749f1b9c4e76eacf9ee3cc046a\",\"name\":\"David Morgan\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.themorganreport.com\/blog\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/5580128866d1436555aa5bfafd8133d2?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/5580128866d1436555aa5bfafd8133d2?s=96&d=mm&r=g\",\"caption\":\"David Morgan\"}}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"An update on the Gold Bull Market and the SP 500 Index","description":"An update on the Gold Bull Market and the SP 500 Index","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.themorganreport.com\/blog\/an-update-on-the-gold-bull-market-and-the-sp-500-index\/","og_locale":"en_US","og_type":"article","og_title":"An update on the Gold Bull Market and the SP 500 Index","og_description":"An update on the Gold Bull Market and the SP 500 Index","og_url":"https:\/\/www.themorganreport.com\/blog\/an-update-on-the-gold-bull-market-and-the-sp-500-index\/","og_site_name":"The Morgan Report News","article_publisher":"https:\/\/www.facebook.com\/pages\/The-Morgan-Report\/317004435015437","article_published_time":"2010-05-18T15:34:36+00:00","article_modified_time":"2018-06-10T10:58:21+00:00","og_image":[{"url":"http:\/\/www.silver-investor.com\/blog\/wp-content\/uploads\/2010\/05\/5-18-101TMTF.jpg"}],"author":"David Morgan","twitter_card":"summary_large_image","twitter_creator":"@silverguru22","twitter_site":"@silverguru22","twitter_misc":{"Written by":"David Morgan","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.themorganreport.com\/blog\/an-update-on-the-gold-bull-market-and-the-sp-500-index\/","url":"https:\/\/www.themorganreport.com\/blog\/an-update-on-the-gold-bull-market-and-the-sp-500-index\/","name":"An update on the Gold Bull Market and the SP 500 Index","isPartOf":{"@id":"https:\/\/www.themorganreport.com\/blog\/#website"},"datePublished":"2010-05-18T15:34:36+00:00","dateModified":"2018-06-10T10:58:21+00:00","author":{"@id":"https:\/\/www.themorganreport.com\/blog\/#\/schema\/person\/2f153b749f1b9c4e76eacf9ee3cc046a"},"description":"An update on the Gold Bull Market and the SP 500 Index","inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.themorganreport.com\/blog\/an-update-on-the-gold-bull-market-and-the-sp-500-index\/"]}]},{"@type":"WebSite","@id":"https:\/\/www.themorganreport.com\/blog\/#website","url":"https:\/\/www.themorganreport.com\/blog\/","name":"The Morgan Report News","description":"Helping You Build And Preserve Wealth","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.themorganreport.com\/blog\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.themorganreport.com\/blog\/#\/schema\/person\/2f153b749f1b9c4e76eacf9ee3cc046a","name":"David Morgan","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.themorganreport.com\/blog\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/5580128866d1436555aa5bfafd8133d2?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/5580128866d1436555aa5bfafd8133d2?s=96&d=mm&r=g","caption":"David Morgan"}}]}},"_links":{"self":[{"href":"https:\/\/www.themorganreport.com\/blog\/wp-json\/wp\/v2\/posts\/223"}],"collection":[{"href":"https:\/\/www.themorganreport.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.themorganreport.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.themorganreport.com\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.themorganreport.com\/blog\/wp-json\/wp\/v2\/comments?post=223"}],"version-history":[{"count":1,"href":"https:\/\/www.themorganreport.com\/blog\/wp-json\/wp\/v2\/posts\/223\/revisions"}],"predecessor-version":[{"id":5859,"href":"https:\/\/www.themorganreport.com\/blog\/wp-json\/wp\/v2\/posts\/223\/revisions\/5859"}],"wp:attachment":[{"href":"https:\/\/www.themorganreport.com\/blog\/wp-json\/wp\/v2\/media?parent=223"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.themorganreport.com\/blog\/wp-json\/wp\/v2\/categories?post=223"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.themorganreport.com\/blog\/wp-json\/wp\/v2\/tags?post=223"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}