Expect a small multi-day pullback into May 1st or 4th. The press will blame poor earnings, guidance, and warnings from companies reporting.
Sentiment is still very bearish which will give fuel to the upside into our mid-May target. Our staff has run many models and they are all pointing to a major low for the end of June. Be prepared: Everything trades together unlike decades ago when certain sectors and stocks could maintain value during sell-offs. High frequency trading algorithms pull 99% of the broad stock market down with every sell-off.
Expect BLMN to gap open tomorrow putting in a short multi-day top. $10 should hold as new support on the pullback. Higher prices into mid-May.
NUGT just getting started to the upside.
The Gold Miners needed a day or two to cool off sentiment which had gotten excessively bullish. This should lead to a launch into early next week of new multi-year highs for the miners.
HFZ