Posted in SPY, Gold, Daily Comment on Apr 23rd, 2008
Stocks indexes closed a bit higher today, although they giving back most of the gains in the after-hours session as I write this. In the last post written on Monday I was concerned about the gap up on fairly light volume. The chart on Monday was the QQQQ. Today I show the SPY with a […]
Posted in Gold, QQQQ, Daily Comment on Apr 1st, 2008
Stock indexes rallied sharply today. The indexes gapped up right from the open and actually extended the range in trend mode throughout the day, and on increasing volume. The chart to the left is of the Nasdaq/QQQQ. I previously posted this developing chart. I noted the change in trend to up, and the subsequent pullback […]
Posted in Gold, Daily Comment on Mar 13th, 2008
Gold hit the magic and much anticipated round number of $1000 today. It fell back a bit mid-morning, then rallied up through it one more time, and then settled back about three dollars under that level. CNBC kept reporting how the back months held up above $1000, therefore traders must be anticipating higher prices in […]
Posted in Gold, QQQQ, Daily Comment on Feb 19th, 2008
The gold market was up sharply today. In previous posts I mention the formation of another triangle, as can be seen by the yellow lines. I also mentioned that it looked like momentum was turning down. With my bearish gut feel, due to extreme bullish sentiment, and momentum oscillators looking like they were starting to […]
Stock indexes were mixed on Friday, with the Dow and S&P lower, and Nasdaq higher. Yesterday I mentioned that the Nasdaq opened on Thursday into the rejection area from the Jan 23rd candle, and quickly recovered to create a reversal bar up. This was a rather weak reversal bar as prices were unable to hold […]
