With momentum starting to diverge and stocks late in their daily cycle it's probably better to sell into a breakout above the all-time highs than buy a breakout.

The dollar also is late in its daily cycle and probably safer to sell a breakout than buy.

Gold on the other hand is deep in the timing band for a cycle bottom and extremely oversold.

Gary Savage
The Smart Money Tracker

Gary Savage authors the Smart Money Tracker and daily financial newsletter tracking the stock & commodity markets with special emphasis on the precious metals market.

Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisors.

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