The major US indices gaped down hard  on Friday to the lower end of the major wave 4 support.  The next major support will be in the Dow 12,000 area where the MTPredictor Decision Point support sits .  If we do see this area this week, don’t be surprised if we get a major bounce off this.

Gold and Silver continue to consolidate after their sell-off from yearly highs.  We’ll see if that consolidation continues as we head into summer or if continued uncertainty around the globe push investors toward these precious metals.

Finally, have a look at Friday’s 7.8 R winner in the NQ using the MTPredictor Elliott wave and Fibonacci trading software for stocks, commodities, futures and forex.

It’s all in this weeks Weekly Market Update

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Tags: 000, commodities, decision point, dow 12, elliott wave software, fibbonacci trading software, forex, futures, gold, mtpredictor, mtpredictor trading software, silver, stocks, wave 4, weekly market update

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