This weekend I did an interview with Ike Iossif of marketviews.tv to see what his indicators are now saying about the markets:
I also got Ike to agree to give you a special 50% discount to get his future premium updates:
We both believe that the next few weeks are going to be critical for the US stock market and gold. Will the recent lows of the S&P 500 hold or will it dump again? Last week it managed to close right on its 200-day moving average and this morning it’s poised to gap up a little on the open.
One thing I’ll be watching this week is how AMZN and GOOG move after they report earnings Thursday after the close. I don’t care what they do that evening, but how they act on Friday and the following Monday.
Last week saw many stocks gap up on earnings and then dump.
For instance if you can remember last week’s 500-point rally day in the DOW the company ADBE reported earnings to boost the Nasdaq and S&P 500 on that day.
But by the end of the week ADBE gave up all of the gains of that day and more.
It wasn’t the only stock that did this.
And GOOG and AMZN actually have charts similar to the way ADBE looked before it reported earnings.
GOOG is now becoming a stock market laggard as it is already trading below its 200-day moving average.
When stocks gap and fade earnings news that a sign that a top is being put in the market.
But Ike’s indicators that examine the entire stock market and the money flows also are showing us some interesting things.
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