The snorkeling camel pattern now fully complete, SPX closed at 870.89. It is nice to have the Memo-advantage.
Good PA stuff http://www.surinotes.com/index.cfm?CSEL=1005 VIDEO of DRAGON PATTERN http://www.moneyshow.com/video/video.asp?wid=2295&t=3&scode=011853
LC, USD/JPY is bearish on monthly, weekly & now I see it is losing ground on daily also. If USD is to start declining again, then IYO would it be reasonable to expect metals to rally again? TY!
Weekly is so weak I can measure it going down to 88 or lower. Silver chart is extremely bullish on daily and weekly ... gold not really
I did not get the memo this morning but I know breaking 50 was a short and after it went above it turned bullish. Do I get a prize for that as a daytrader? p.s. the swing low made before 3 pm ET was tricky as we are talking about a normal RTH 30 min breakout kind of support ... And I hate trading a day like this
TY! I agree about silver, I posted silver:gold daily ratio chart a couple of weeks ago, I don't understand FA behind it, nevertheless I see the same as you. USD/JPY has 3 declining peaks in histo on daily, bad bad bad for USD If that's the case & USD tanks, then do you expect stock markets to follow suit? TY!
Indeed. But instead of conjuring up fanciful creatures, it's should be noted that prices move the way they do for a reason.
Staying short here with both the swing short of 5 contracts and the positonal short of 20 contracts. I had a nice day today out and about enjoying life.