It is interesting to note that silver is now in its longest run without an intermediate term correction in its history. Would you expect it continue or to be topping now?
Wednesday, January 12, 2011
Are Commodities At A Top?
The CRB commodity index appears to have completed, or nearly, so a 3 wave rally from its 2009 low. The index bottomed in February 2009 a few days ahead of the stock market bottom. Will we see a repeat? Even if there is a top in commodities here it doesn't mean that a retest of the 2009 lows is coming next. The rally from 2009 could be part of a double zigzag. In that case a 38.2% to 61.8% retracement would be expected.
It is interesting to note that silver is now in its longest run without an intermediate term correction in its history. Would you expect it continue or to be topping now?
It is interesting to note that silver is now in its longest run without an intermediate term correction in its history. Would you expect it continue or to be topping now?
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About half way down in Tharp's newsletter is an interesting article on the silver/gold ratio
http://www.iitm.com/Weekly_update/Weekly_508_Jan_12_2011.htm
jeff
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