Access long term charts for the NYSE index and you will see that, adjusted for inflation, rather than reaching new highs, this index and others, form a massive H&S (head and shoulders) pattern. Unfortunately the chart link that was found from the website, Inflationdata cannot be posted due to Yahoo restrictions. The fact that Yahoo doesn’t provide a “white listed” link for this sort of chart is suspicious, to say the least.
This current correction can also be witnessed by looking at the McClellan Oscillator Summation Index which has bounced off the Zero line far into negative territory.
The massive size and long term nature, since the mid-90’s, would seem to indicate that the current downturn could take averages down sharply to multi-year lows. This has been referenced many times in the past from this screen name. The problem has been that this chart formation has taken so long to form that many have forgotten its relevance to what could transpire. The fact that the unadjusted index charts are always trumpeted by major media sources as indices rose to “new nominal highs” shows that bankster puppet media talking heads have been tools to fleece listeners. Charts contain the combined wisdom of all participants, and there is no excuse for providing ignorant media types a forum to discuss financial matters, except as tools of the banksters and their elitist ownership.
This should be an opportune time for PM investment decisions, but only when the market has bottomed, such as was the case late in 2008 and early 2009. For SLW investors, remember that back in early 2009 this company was in dire straights and there was discussion that it might not remain in business. Those that discounted those reports were handsomely rewarded.
Sell what ? The general market, tech., etc. or SLW...Seems to me precious metals do well when there are inflation fears with the economy looking good or economic collapse fears.. Like Goldilocks with SLWs place in the too hot or too cold catagory. Seeing the Obamas minions are feeding us all s##t info on all aspects ( actual unemployment ) were in the best of places with SLW.. High actual inflation ( been to the grocery store lately ) and coming collapse with $17 trillion unpayable debt and oncoming runaway spending with Obamacare etc. Are some of those billions of rounds of hollowpoints our wonderfull Government has bought for you and me ? End of rant..
It is assumed that those who are familiar with URLs will be able to concatenate the above (less the parenthetical instruction and any spaces) in order to access a very interesting chart.
This shows a fully formed H&S pattern for the China Stock Market, as shown in an Internet article titled, “Gold Loses A Battle, But War Continues”, by Morris Hubbartt dated June 21, 2013. It is yet another indication that the losses in major market indices are under way.
China, as most everyone knows, supplies most of the world’s manufactured goods.
Sorry about the diversionary tactics. It goes with Yahoo territory.