KING WORLD NEWS - BLOG
BROADCAST../../../../Broadcast/Broadcast.html../../../../Broadcast/Broadcast.htmlshapeimage_6_link_0
HOME../../../../King_World_News.html../../../../King_World_News.htmlshapeimage_13_link_0
BUSINESS../../../../Business.html../../../../Business.htmlshapeimage_14_link_0
GREEN../../../../Green.html../../../../Green.htmlshapeimage_15_link_0
HEALTH../../../../Health_1.html../../../../Health_1.htmlshapeimage_16_link_0
ENERGY../../../../Energy.html../../../../Energy.htmlshapeimage_17_link_0
SPORTS../../../../Sports.html../../../../Sports.htmlshapeimage_18_link_0
GOLD+../../../../Gold.html../../../../Gold.htmlshapeimage_21_link_0
 

Fitzpatrick’s Team:  “In the short-term we are now finally seeing some stress in the US equity markets (and more elsewhere).  Good levels are now being tested, which, if broken, would suggest further losses in the region of 10%+ (high to low).


We once again articulate the dynamics we would look for to suggest that a deeper correction (20%+) may be materializing....


Continue reading the Tom Fitzpatrick piece below...




Advertisement


To hear which gold powerhouse has attracted BlackRock, JP Morgan, Van Eck & Sprott

Asset Management as major shareholders click on the logo below:





“At this point it is still too early to say that this development is imminent but if shorter-term developments take place then it would bring these bigger levels into play.




There is now a substantial gap between the 55 and 200-day moving averages (1606 versus 1,498 - a gap of 6.7%). The last time this gap was this wide was May 2012 (7.8%), which eventually saw us hit and trade just below the 200-day moving average on June 4th for a high to low fall of 11%.  At 1,498 the present position of the 200-day moving average is 11% below the trend high.

 

So a close below these supports detailed above would suggest a move similar to what we saw in 2012. 




(The 1,474 level):  This is both the 2012 peak and most importantly the peak posted after the Fed gave us QE infinity in September 2012.  (A policy that they are attempting to back away from now.)  A weekly close below this range would suggest a danger of a move towards the 200-week moving average.  That is presently at 1,279 (11,991 on DJIA), 24% off the years high which would fit well with our view of a likely bigger correction.” 


King World News note:  Below Fitzpatrick included a chart which illustrated the danger of a massive free-fall in European banking shares.  Fitpatrick’s team is targeting a more than 30% plunge in European bank shares which would certainly rock the global markets and send shock waves through the financial system.




© 2013 by King World News®. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed.  However, linking directly to the blog page is permitted and encouraged.


The audio interviews with Egon von Greyerz, Gerald Celente, James Turk, John Embry, Dr. Philippa Malmgren, Bill Fleckenstein, Eric Sprott, Stephen Leeb, Rick Rule, Jim Grant and Art Cashin are available now.  Also, be sure to hear the other recent KWN interviews which include Marc Faber and Felix Zulauf by CLICKING HERE.


Eric King

KingWorldNews.com

To return to BLOG click here.


 
 
http://kingworldnews.com/kingworldnews/KWN_DailyWeb/KWN_DailyWeb.html
KWN BLOGhttp://kingworldnews.com/kingworldnews/KWN_DailyWeb/KWN_DailyWeb.htmlhttp://kingworldnews.com/kingworldnews/KWN_DailyWeb/KWN_DailyWeb.htmlhttp://kingworldnews.com/kingworldnews/KWN_DailyWeb/KWN_DailyWeb.htmlshapeimage_24_link_0shapeimage_24_link_1

© 2013 by King World News®. All Rights Reserved. This material may not be published, broadcast,

rewritten, or redistributed.  However, linking directly to the blog page is permitted and encouraged.

Subscribe to RSS
CLICK HEREhttp://kingworldnews.com/kingworldnews/KWN_DailyWeb/rss.xmlhttp://kingworldnews.com/kingworldnews/KWN_DailyWeb/rss.xmlhttp://kingworldnews.com/kingworldnews/KWN_DailyWeb/rss.xmlshapeimage_27_link_0shapeimage_27_link_1
KWN Blog
Archiveshttp://kingworldnews.com/kingworldnews/KWN_DailyWeb/Archive.htmlhttp://kingworldnews.com/kingworldnews/KWN_DailyWeb/Archive.htmlhttp://kingworldnews.com/kingworldnews/KWN_DailyWeb/Archive.htmlshapeimage_28_link_0shapeimage_28_link_1
http://www.kingworldnews.com/kingworldnews/Broadcast/Broadcast.html