Hold tight. Here are two very important charts that you need to watch, especially on the weekly level.
First is the Dow Jones industrials. After hitting new all-time highs, the industrials kept rising while the Transportations failed to confirm the sustained move.
Next is the Dow Transportations. They Plummeted today after failing to confirm a move to another new all time high.
Look at the Gold chart below the post. Gold Sold off Hard today as well. One look at GLD should tell us that Gold is potentially trading down to the bottom of its range. Any further sell-off from here is a buying opportunity for long-term investors in my opinion. Averaging down with small chunks is the key, since most of us aren't able to time the markets.
Also, be sure to stay diversified. Gold and Gold stocks are inversely related to general equities, but when everything sells off like it is now, golden opportunities are presented. One such opportunity is shaping up right now.
