Richard Russell has made his subscribers fortunes. One of the best values anywhere in the financial world at only a $300 subscription to get his DAILY report for a year. HERE to subscribe. Amongst his achievements Richard was in cash before the 2008/2009 Crash and he has been Bullish Gold since below $300.
Ah, a new decade, so let’s start by seeing what we’ve got, generational.
First we have the so-called greatest generation, those born prior to 1928 (of which your editor is one). These poor devils lived through the Great Depression and fought in World War II.
Then we have the “silent generation,” born 1928 to 1945. Not a heck of a lot happened with the “silent ones.”
Next came the Baby Boomers, born 1946 to 1954. The Baby Boomers felt pretty good about themselves, and as a result they were good at making lots of babies. They lived through the Cold War, Vietnam and had lots of money. Actually, they were “spoiled” by money and debt. This was a huge generation, and by 1970 they constituted half of all Americans by population.
Then came Generation X, born 1965 to 1980. This was the first generation born after the “pill,” so there was lots of sex and fewer babies.
Bringing it to the present, we now have Generation Y, born between 1981 and 1999.
Generation Y is a smaller bunch than the boomers, and their numbers account for a fourth of the US population. The YOs are computer-minded and they live on their IPhones.
Problem, the smaller Generation X and Y will have a real job supporting their elders and dealing with the debts the preceding generations left for them. As Founding Father Benjamin Franklin said, “We give you a republic — if you can keep it.”
If we only knew what the stock market knows. If we could only “read” the message that the stock market gives us.
Today, on the third day of January, we see the stock market appearing, according to most of the experts, to be heading due north.
Just to make sure, let’s check it out on a point&figure chart of the S&P 500 Composite. Here we see the S&P on a “high pole” and looking quite impressive. The market is overbought, and volume has dropped off dramatically over recent weeks, so we may be over-due for a correction. What happens during the next correction will be critically important. If the S&P retains half or better of its high pole, that will qualify as bullish action. That means that the Composite will have to hold at 116 or better. Sinking below 116 would be bearish. We’ll await the verdict of the market on this one.
Ed Note: Richard Russell is still bullish Gold as he has been since the bottom at $250-$260.
Richard Russell has made his subscribers fortunes. One of the best values anywhere in the financial world at only a $300 subscription to get his DAILY report for a year. HERE to subscribe. Amongst his achievements Richard was in cash before the 2008/2009 Crash and he has been Bullish Gold since below $300.