Tuesday, April 19, 2011

4/19 noon

The stock market turned back from SP futures 30-minute M/A and DJI critical M/A.  Precious metals finally are responding to dollar weakness.  Gold and silver appear to be breaking out of triangles and I have stood aside.  The dollar ran up to it's critical M/A yesterday and turned back.  I'm waiting for .55% hourly or 90-minute close to turn bullish.
I1 is a risk-on/risk-off sentiment gauge.  It peaks today at a double-top with yesterday.  In the past with double-tops the stock market has a tendency to peak the second day noonish, but this is just a 50%.  I believe that the top is in.

3 comments:

  1. Now that's a round number! Yippeee, skipeee!

    ReplyDelete
  2. This is unreal. It just won't stop.

    ReplyDelete