Sunday, September 13, 2009

Technical Picture - Win Steak Ends at Resistance

As discussed on Thursday, preliminary targets on S&P have been attained and now we anticipate a retracement to either the trendline or the base at 950.


IBD says a weaker dollar and inflation fears are propelling gold higher. Really?, I thought gold bugs were pushing gold higher. The $USD chart still has me scratching my head, because lower prices are not being confirmed in the MACD.

3 comments:

StockFiend said...

Are you shorting the market since you think we've topped?

Jamie said...

Not yet. I'm waiting for a clear signal.

StockFiend said...

Good thinking, same here. I got burned on EDZ and SRS a couple weeks ago.