If you listen to the market commentators on TV, they seem to tell you that things are going well
However, when you look at the price of oil hitting $112 a barrel and U.S. gasoline prices heading back to $4 a gallon, are you back to Good Times?
When you look at the unemployment level you see that the U.S. is still at 8.8% (more like 12% to 15%). Are those good times?
You see that Obama is talking about raising taxes. Are those good times?
We see that if they dont raise your debt ceiling before May 16th, then we all will have utter chaos.
Now does all of that equal Good Times? If so, I cant see it!
When you drive through your neighborhoods, do you still see too many foreclosure signs in the yards? I still see over 44 million Americans on government assistance programs, etc.
Thats why I believe the Elliott Wave counts are correct. They count the recent rally as a correction upward in a larger bear market. Thats very different from the recent upswing being a new Bull Market. Big difference.
I also think the correction upward in stocks could be nearing its end now or may have even ended already. If the Dow, S&P 500 and NASDAQ cant push through their former highs, then were probably looking at a double top on those charts. If you consider things like the huge MACD divergences on those charts, then its even more likely that a top could be forming.
When you look at all of this and then you consider that most of the G-7 nations cant even grow at 1% right now on a year-over-year basis you know that were on the brink of another recession. In fact, New Zealand, the U.K. and Japan all have negative GDP readings right now.
So if something doesnt change drastically and quickly, then those tough times could be back.
If they do this time wed have tough times with higher debt levels than before. Wed have tough times but with weaker dollars due to all of the money printing from the Fed. Wed have tough times but still high inflation … again due to the money printing program of the Federal Reserve.
Okay, but here is the good part even when there is a gloomy picture, there are still plenty of opportunities to make money …
trading currency pairs.
You can trade successfully through both bull and bear markets in stocks.
You can have personal success even through high unemployment or low unemployment through high oil prices or low oil prices.
Thats the good news and thats why I love our ExoticFX program. It gives you more control over your future in the midst of many things going on around you which are far out of your control.
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