Overbought Market?
Looking at the Venture Exchange's chart for the past 6 months, it really has been a good ride.
I hate calling downturns because they are so hard to call but it seems to me like we might have a little one still for a week or two.
Just looking at the commodities themselves, Gold recently hit around $730, Silver over $15, and Copper over $4.
These are massive gains all around and we all know that everything doesn't go straight up. It goes up for a while then retreats a little, only to move past its previous high.
So there could be an ~10% correction in many markets over the coming week or two.
Of course I can't predict the future but that is just what the charts are showing me. They aren't always right but many times they are.
This doesn't mean to liquidate all your positions and hold cash. It simply means to keep your eyes open to new buying opportunities. Always keep in mind (during a bull market) these two phrases:
1. Buy on the Dips
2. Sell into Strength, Buy into Weakness
And here is the Venture Chart I am using for my current prediction:
