We are at the moment of truth. The S&P500 is in a similar oversold state that preceded market rallies throughout 2013. In 2013, after each brief 4-7% multi-week correction, the buy on dip traders jumped in and bought with a vengeance. If this pullback is going to be a buy on dip, it could happen off this area in the 1750.00-1770.00 zone. The McClellan Oscillator is currently oversold below the -50 level. The September and December "buy on dip" opportunities started with the McClellan Oscillator at these exact oversold levels.
Back in October of 2013 we were on crash alert based upon the criteria we have identified that preceded prior market declines.
Goldman Sachs came out with a market call suggesting the "Lofty" market is ripe for a 10% market drop. There it is. Now all investors take heed. While this has stirred the media, the real question I want to answer is - what is Goldman's agenda?
Over the last 3 years we have witnessed one of the most severe gold miners bear markets in history. It has been an indiscriminate decline that has broken the will of the retail investor.