That gold ma on the 60min is 377ma which has held long since December.
It’s at 160.53 now.
If we break that: kiss yr stuff goodbye
I think a bounce will intervene before we get there
Disclaimer: I am not an investment advisor. This is just my opinion NOT investment advice.
Yellow line represents fear-eliminating Fed Ponzi. Circles are 9ema touching the 18ema on the daily chart, representing Fed trigger point. The whole deal was/is subject to diminishing returns, and a need for a recent face saving QE easing blurbs. Will the market now trade on economic fundamentals and return some confidence to TA, because we all know the Fed will not stop the Ponzi until WWIII. Stay tuned.
‘the petrodollar is our currency and our problem’....Gappy
Been WINNING all day baby!! Anyways on to a more serious side 15,000 is support for Dow, but if fails, then check out SPX trend line...1600ish still possible by the end of the week...Not much pos d on the hourly, so looks negative...
I am watching for a bounce which could be brutal if/when the bears race to cover (BUY to cover shorts = squeeze potential)
But not just yet, as I SEE THE BEAR INTERNALS HOLDING STRONG at the moment
Disclaimer: I am not an investment advisor. This is just my opinion NOT investment advice.
again, before the trend line broken and the day low revisited (cannot breakdown decisively), it's not long.
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