Downside Targets and a Top in Gold
A secondary top in stocks was indentified several weeks ago. It is now time to assess downside targets. I am measuring objectives with the S&P index. A simple head and shoulders measuring technique yields objectives of 885 (log) and 862 (linear). The 61.8% retracement (878) of the rally from the 2009 low and the July 2009 low (869) reinforce this area as one of importance.
