50 DMA Weekly paints the bearish TRUTH!

Take a look at this and then tell me you are BOOISH.......

West

GOLD Update

Is the bull market in gold over, forget all the hype, follow the charts - they factor in what the real picture is. The rest, well it is just worthless.

West

Precipice Finish

Precipice - The brink of a dangerous or disastrous situation, on the precipice of defeat.....

This is what your FED is fighting, outright deflation and right ahead of November elections. Once this breaks we will have a comeback rally - at what bottom, retest of 10683, more like 10,000 (big technical support here) or even lower 8528 if we break 10,000.

Near term, get out of stocks under:
11032, 10960 and 10900 these are key supports for the month of September.

Once this collapse occurs and it will, we should see a retrace of upwards of 55%, it happened in 1929. But after this retrace expect the final blow to this whole FED created liquidity mess, how low, the Elliott Wave Boys still have a DOW 400 target. Lets just say it will not be pretty.

West