Gold, Oil & Indices (Equity & Bond Indices)

Hey dave what a mad day on the markets... FTSE took an absolute pounding. HSBC getting smacked like a little bit$h due to it's Asia connections and the rest of the banking sector heading south for god knows what reason. Still I am adding to current blue chip positions as am willing to see this crisis out and reap the sweet harvest later this year.

I agree with your analysis, I have noticed a big reduction of E European migrants in london myself . In my v unscientific test I have noticed a big reduction in the number of their girls out and about in the clubs in the city. I myself am contemplating migration to Aus or Canada as the quality of life for ppl of my generation is quite poor.

Gunjack, following my little driving up country fundamental analysis I thought the claimant count # today was mighty interesting. Last govnmt allowed the floodgates open for immigration over many years. No one has any idea population of uk. The national survey should be interesting.

My suspicion is a significant exodus of both illegal and legal varieties. Cornwall is no guide as we have very few foreign immigrants here aside of polish seasonal farm workers for fruit growing etc. Our infrastructure is under massive strain in the 8 month holiday season but the local economy is reliant on tourism and in more recent years on second home owners who in truth take out more than they give.

Whenever I have ventured up country over the past 15 yrs the thing that struck me was the ever increasing population placing impossible burdens upon our infrastructures in this tiny country. The official labour govnmt population # was an enormous joke from my perspective and I think that will yet become revealed. What I saw on my excursion to the S.E this year was a dramatic reduction in traffic and people in the towns I visited.

I think if crude and comods have topped out (unlikely) then high probability stocks have topped out for a very long time indeed.

Not understanding the point Ashraf making on twitter re SPX.

The move down from 1344 high today kissed 50% ret of the last swing up from 30th Nov low. It spiked through a typical correction level and quickly retreated. Also coincided with the 100 dma so 3 levels make a cluster of potential support. Jury out whether correction finished or back south again.

As to RSI divergences, O/B conditions, CCI, Stochs or whatever I have long since found no value for US stock indices which are a very "special" case !

I read the Nov low as a potential wave 4 of C so the current move down could well be a wave 4 of 5 of C, alternatively something a lot more sinister.

As of today gold and silver have both visited typical corrective target areas from their highs but low confidence and would need to see good valid buy signals to be a buyer again.