What John Howell said in this video:
- SPYbearishshort-termThe S&P 500 (SPY) had a false breakout and is now entering a correction; the host warned two months ago that a false breakout would be followed by a correction, and the current sell-off confirms that view.Source
- Otherpositive for stockslong-termFrom a 10-year long-term perspective, gold is expected to reach $10,000 plus, but it first needs to build energy through a multi-year time phase before the next major bull market.Source
- GLDbearishlong-termGold (via GLD) has run out of energy after its bull run and is entering a 1-2 year time phase (correction/consolidation), with GLD expected to fall to around 300; the decline is likely to continue in the short term.Source
- XLEbullishlong-termXLE (Energy Select Sector SPDR Fund) broke out this year after three years of sideways energy building and is starting a brand new long-term bull phase; this is why the host has been so bullish the energy markets.Source
- USObullishmid-termUSO (United States Oil Fund) broke out this year after about four years of sideways energy building; the host had predicted this breakout and expects oil to continue moving about 50% to the upside.Source