I'm neutral, the chart shows both bull and bear target.
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TraderGirl wrote:Both GLD and SLV look very similar...looking at the weekly both are trading right below the 50dma...looks like it needs to break through this resistance to go higher...but MACD needs to turn up...below zero line...
I am hearing that a lot of gold and silver traders are waiting until Bernanke speaks around 4 pm to make any significant moves as they are looking for clues on the longevity of QE.
Did OB say something? I don't see any reactions on the market.
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Cobra wrote:Did OB say something? I don't see any reactions on the market.
Yeah, debt ceiling, gun control - it's on CNBC...
I'm disappointed, no reactions from market.
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5 minute chart of Dow...can be ending expanding wedge...if unable to get above upper trendline...usually is bearish...
SPX below definitely looking bearish..
Turns this week are Monday, Thurs and Friday... Looking for a turn down at some point this week...if not today, then later this week...but SPX already turned down so far, and Dow looking like a bearish setup....
Cobra wrote:Did OB say something? I don't see any reactions on the market.
Yeah, debt ceiling, gun control - it's on CNBC...
I'm disappointed, no reactions from market.
So am I, neither Obama nor my signal managed to move the markets
I consider your signal as top, because SPY rebounded to your pivot line, so it should mean top. Small intraday top of course.
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I might be dreaming if this is a Double Top. wait.
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