USD & GOLD

This morning we are seeing the US Dollar index move higher retesting a short term breakdown resistance level. What this means is that the dollar fell below support and is not slowing drifting back up to test the breakdown level. As we all know once a support level is broken it then becomes resistance. So if that holds true with the current move in the dollar we should see stocks and commodities find a short term bottom and continue higher today or tomorrow from the looks of things.

Gold has been pulling back the past couple trading session on light volume which healthy price action. It has done the opposite of what the dollar did above. Gold broke through a key resistance level and is slowly drifting back down to test the breakout level to see if it is support. If so then gold should continue higher in the coming days.

Both silver and gold miner stocks are lagging he price of gold. They have yet to break through their key resistance levels. That being said it could happen an day now as they have both been flirting with that level for a couple trading sessions now.

Crude oil continues to hold up strong and is headed straight for its key resistance levels without any real pullback. Chasing price action like this is not something do often because risk: reward is not in your favor. I am staying on the sidelines for oil until I see a setup that has more potential and less risk.

The equities market remains in a strong uptrend at this time. I do feel a 1-3 weeks pause/pullback could take place at any time but in the grand scheme of things we could be only half way through this runaway stock market rally as noted in the video.

The equities market is going to gap down this morning which is typical in a bull market. Remember. in an uptrend the stock market tends to gap lower at the open and close higher into the close. And it's the opposite in a down trend with stocks gapping higher and sell off through the trading session.

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By Chris Vermeulen
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所有跟帖： 

• 这种文章看多了，还不如不看。 -双栖儿- ♀ (0 bytes) () 02/28/2012 postreply 22:12:26

• 有进步，顶。 -hercules007- ♂ (146 bytes) () 02/29/2012 postreply 02:08:03

• GOLD & SILVER -双栖儿- ♀ (5453 bytes) () 02/28/2012 postreply 22:28:22

• 金熊银熊看来都绝迹了。 :) -双栖儿- ♀ (0 bytes) () 02/28/2012 postreply 22:32:29

• 说明大脑都还正常。 :) -hercules007- ♂ (444 bytes) () 02/29/2012 postreply 02:11:24

• He has very shor time frame and is very conservative, his trades -howcan^- ♀ (67 bytes) () 02/29/2012 postreply 05:41:54

• his trades have very high success rate -howcan^- ♀ (0 bytes) () 02/29/2012 postreply 06:03:48