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The behaviour of the banksters continues to be nothing short of appalling. All of the largest economies are struggling. Even so, June was positive for the markets. Seasonally, the latter part of July is good for the gold and the energy markets. I expect both to improve. As for the broad markets, overall, I expect some good shorter term trading opportunities, but fail to see any real catalyst which could propel them to new heights. The Elliott wave pattern of three waves followed by two in the opposite direction would suggest we will see a lower low than the May/June correction we just saw.
18 month return for TSX @ June 30, 2012 = -13.89 percent
Return for Basic Timing Model using XIU = 9.03 percent
Return for Advanced Timing Model = -4.36 percent
Money for charity = $0.00