QUESTION: Mr. Armstrong, since the S&P did break last year’s low, does that qualify for a slingshot if the Dow does not?
Thank You for all you do
ANSWER: We do not have to make a new low in the Dow. The S&P 500 penetrating last year’s low was sufficient. We are approaching our target for the shift in confidence in the euro on 2016.202. This may cause a bid in the Dow, which is where international capital seeks to park money.
These are EXTREMELY difficult times. They are not easy to forecast, to say the least. This is certainly not a time for OPINION for sometimes it may be right, and other times dead wrong. The numbers are the numbers as is TIME. We have to realize that everything happens for a reason. We closed lower at year-end and that warned of this correction, just as we closed above 1044 in gold. Absolutely everything takes place according to a fine order. Our job is to listen to the markets for they are trying to speak to us. We have to comprehend what they are saying.
Look closely at the oscillator. It is starting to curve back up. With the euro looking very weak, we may yet see a real crisis coming in confidence.