For just about 3 days now the markets have soared. This is not a natural move as it’s also near vertical, suggesting that many buy stops got hit combined with the “Fear Of Missing Out”, rush.
The Dow did come back well into the previous second wave but it can’t surpass it. We would have to look for another zigzag type of a decline which would also produce a newer record low.
The Gold/Dow ratio changed but it didn’t make me jump up and down and scream “Buy”, as it’s only at 19:1 this morning.
I’m sure it will now take the rest of the week or longer before this clears up a bit and a complete retracement would have to take place if this was just another bear market rally.
The DOW and the SP500 are a bit the same but the Nasdaq looks more like an impulse.