Monday, June 06, 2011

Trading Range


it seems that pretty much everything is stuck in a range except for the dollar. Last week the dollar rally ended, its on a slide to 73 and below. 

This usually is the leader in signaling industrial growth and as you can see for months its gone sideways and that channel broke due to no further QE reports etc. It has to take out the 50 and the descending wedge channel for there to be any meaningful SPX upside. Nothing will happen until QE talk starts.


Failed to stay above the 150dma, sold off with the stock market. It should get above the 150dma and challenge the 50dma this week. This will be bullish for Gold and Silver

CCi has held up extremely well given market sell-off, its also stuck between the 150 and 50dma lets see how this plays out. I'm expecting an oversold SPX rally so the CCI should take out the 50dma

This is the most bullish chart I have seen since the May swoon, should take out the all time highs this week. This chart is remarkable when you look at how everything else was beaten up. Gold Standard prep?

Looks a lot like silver!

No comments:

Post a Comment