The Dow sold off hard last week off of the MTPredictor TS3 sell signal that was given back on 9/1.  Friday we came into the MTPredictor Decision point support.  The MTPredictor trading software gave a DP buy signal due to the divergence in our Strong Trend Filter.  The signal is against the bigger trend so it is one to avoid and stick with the bigger trend which is still down.  We should, however, expect the market to bounce early in the week.

News out of the G20 meeting this weekend calls for an orderly default for Greece in late in October or early November.  Expect this news to be reacted upon when markets open.  Monday should be interesting.

Oil also is working its way down toward its target of its TS3 sell signal.  The target is at 74.61 but we also came into DP support on Friday so a bounce is expected early in the week here.

Gold and silver sold off hard coinciding with the raising of margin requirements in these markets.  This put gold below its 50 day moving average (but above its 200 day ma) and into its MTPredictor wave 4 and DP support.  These have been good buying opportunities in both gold and silver over the last few years.  Check out tonight’s video for all the details.

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Tags: commodities, Dow, dow short, elliott wave software, fibonacci trading software, forex, futures, g20, gold, greece, mtpredictor, mtpredictor market update, oil, stocks, trading, wave 5

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