Here the Swiss team’s weekly technical comments. They are expecting a large inter governmental qe3 event but weakness may extent into the fall of 2012 before a new significant bull leg in equities takes hold. They therefore discount, for now, the deflationary melt down scenario that some are pointing to. They do point out that if they are wrong on this macro call and a wider global melt down does occur it is highly unlikely to occur here and now and instead would, more likely, occur in late 2012. They predict summer strength before the resumption of an autumn bear and important bottom in equity markets globally.
For gold bugs some very good news thataccording to their charts gold has formed a significant bottom and that a move above the 200 day ma and above $1680 would call for a re-test of the March top. Things are looking bullish once again for the precious metals and “buying dips’ is their call.
Luck to all
Rich
(7 votes, average: 4.57 out of 5)
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