The stock market has been in a tight trading range for the last 9 days. I1 makes a peak 12/6. I expect a breakout upward going into this peak which will form the B wave of a triangle. I'll short then, but only for a trip back to 1180. I will continue to sip mint julips and take it slow until the trading range is more mature.
Gold is showing a lot of strength reflecting the EU fiat. Silver riding along with it. Both will coast along with any stock rally. Looking to short silver around $29.
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Copper
ReplyDeletehttp://99ercharts.blogspot.com/2010/11/copper_30.html
Gold
ReplyDeleteDiamond Top?
http://99ercharts.blogspot.com/2010/11/gold_4260.html
Hello from the Caribbean Steve. Is there a descending traingle on the SPX, lower highs etc, and bouncing off 1174?
ReplyDeleteHope to see that break down soon.
Looks like we got Carl's pattern to the tee. Aggressive short below 1173. Would fit my double top call. Should be interesting eh?
ReplyDeleteEvidence for Steve's view: I have a weekly buy on the Euro. That should buoy stocks.
ReplyDeleteHi Charles,
ReplyDelete1173 is key.