About one month ago I got the chance to appear on the podcast FridayMarketMonitor with Walter Traversy and Pina Bernardi. I’m a little late in providing a link to the podcast, but to be honest my views of the market haven’t changed at all since the interview, so I think it’s still worthwhile to check out. Here’s the link to the podcast, and to their website:
http://proxy.autopod.ca/podcasts/chum/10/4346/fmm.11.08.12.mp3
Back then I said that I was most bullish on gold stocks, for a number of technical reasons that I’ve outlined in recent articles on the site. I also was looking for a retest of 1260 on the S&P 500 which would help confirm a bear market on a failure to hold that level. So far during this consolidation the S&P 500 has managed to tag 1230, but it’s still trapped in a very volatile consolidation. The latest twist is the recent sharp surge in the dollar and breakdown in the Euro, which I covered in my most recent article. As I said in the article I view that as more bearish news for the stock market going forward.
Getting back to the FridayMarketMonitor, I enjoyed their show since it has more of a slant towards technical analysis, which you don’t normally find in most financial podcasts. Here’s a link to their archived shows if you’d like to check them out: