The video attached below is a very condensed version of what I provide to my Insider Members in their Weekend Market Analysis.
The retracement in the stock market continues and we are now rapidly approaching my targets for this 4th wave.
Continues to Plummet
In the Baltic Dry Index chart above you can see that it continues to plummet to new all-time lows. I last talked about this on January 6 in the post “What is the Baltic Dry Index Saying Now?” The situation is now much worse.
Extreme Conditions
And what does Apple’s CEO Tim Cook have to say about the global picture? In his discussion of Apple’s results on Tuesday he was quoted as saying:
“Our results are particularly impressive given the challenging global macroeconomic environment. We’re seeing extreme conditions unlike anything we’ve experienced before just about everywhere we look.“
– Tim Cook, Apple CEO
Jan. 26, 2016
In the video below I review last week’s market action by reviewing the Dow Jones Industrial Average (DJIA) and the Russell 2000 (RUT).
I then look at the DJIA on a monthly basis and show why it is now giving the same signal the NYSE Composite gave last September.
I also review the dollar, gold and the Nasdaq Biotech ETF (IBB). I then look at one of its components, Gilead Sciences (GILD).