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This week I talked about how the uptrend is to be the focus of trading positions until a down trend is actually confirmed via price and volume action. The SP500 was very close to reversing down this week but with the POMO’s (permanent open market operations) scheduled largest injection of money for February of over […]
Since silver and gold topped in 2011 investors have been struggling with these positions hoping this cyclical bull market for metals continues. The simple truth is no one knows for sure if prices will continue and make new highs and those who say its a for sure thing we all know deep down is full […]
Gold and silver along with their related miners have been under a lot of selling pressure the last few months. Prices have fallen far enough to make most traders and investors start to panic and close out their long term positions which is a bullish signal in my opinion. My trading tactic for both swing […]
Crude oil has been trading ways for the past year between the 2011 high and low. The trading range through 2012 has been contracting with a series of lower highs and higher lows. This pennant formation because it is taking place after an uptrend is a bullish pattern with $110 and possibly even $140+ per […]
The precious metals sector has been dormant since both gold and silver topped in 2011. But the long term bull market remains intact. As long as we do not have the price of gold close below the lower yellow box on the monthly chart then technical speaking precious metals should continue much higher. Large consolidation […]
US stock market is closed today for Martin Luther King, Jr. Day. I do not expect much price action to take place on the Canadian or futures market today. Pre-Market Analysis Points: – Dollar index is giving mixed signals this week. Short term chart looks bullish for another couple of days but overall it is […]
Dollar index 4 hour chart is forming a bear flag. Until the lower blue support line is broken the flag will continue higher. Crude oil has a big pop yesterday as it continues up its support trend line. It looks as though it may take a run at the $100 per barrel level over the […]
Good Morning, Yesterday’s trading session played out exactly as posted in the morning chart update. Today will be a different story from the looks of it as the dollar index looks to be putting in a bottom and that has the SP500 down 0.40% this morning. It may trigger our first entry point to let […]
Gold and gold miner stocks have underperformed in 2012 disappointing most traders. That being said it has traded in a large sideways range since September 2011 and remains stuck in this range as of this week. Investments trading sideways are not my preferred investment of choice because some commodities and stocks for that matter can […]
Today’s gap higher in stocks has many investors feeling really good about but will this rally last? My to the point answer is “Yes” but there will be some bumps and navigating positions along the way. Looking at the charts below you will notice how stocks are trading up over 4% in two trading sessions […]