Giving the Mongoose a Little Space

IMG Auteur
 
 
Published : June 30th, 2017
201 words - Reading time : less than a minute
( 0 vote, 0/5 )
Print article
  Article Comments Comment this article Rating All Articles  
0
Send
0
comment
Our Newsletter...
Category : Opinions and Analysis

24hGold - Giving the Mongoose ...

Elsewhere on the Rick’s Picks home page, I’ve offered a mildly bullish short-term projection for the E-Mini S&Ps. However, I proffer the Mini-Dow’s chart (see inset) as a cautionary note, since Thursday’s downdraft did impressive damage to the hourly chart. Specifically, it exceeded three prior lows, two of them ‘external’, without an upward correction.  We’ll get a better sense of how serious this is if and when the futures roll over and take a second leg down. If it should reach or exceed the downtrending abc pattern’s ‘d’ target, that would have bearish implications at least for the near term. For the moment, however, the September contract is rebounding moderately in after-hours trading. If the rally were to continue, exceeding the 21.454 ‘external’ peak that I’ve labeled, DaBoyz would have shorts seriously on the run ahead of the holiday weekend. It will be interesting to see how things play out in any event, but I’d suggest watching from the sidelines on Friday unless you fancy tangling with a mongoose. If you don’t subscribe, click here for a free two-week trial that will allow you to enter the Rick’s Picks chat room, where great traders from around the world gather 24/7.


|
Data and Statistics for these countries : Georgia | All
Gold and Silver Prices for these countries : Georgia | All
<< Previous article
Rate : Average note :0 (0 vote)
>> Next article
Rick Ackerman is the editor of Rick’s Picks, a daily trading newsletter and intraday advisory packed with detailed strategies, fresh ideas and plain old horse sense.
Comments closed
Latest comment posted for this article
Be the first to comment
Add your comment
Top articles
Latest Comments
Another One Bites the Dust
23 NovDoom
Shallow it may be, but it's frickin' hilarious to laugh at all the hypocritical jerks who gave Trump ("I'm no angel") endless grief for his "when y...
Brexit, Gold and Harold Wilson's 'Pound in Your Pocket', 50 Years On
20 NovThemis
Good points, however Brexit is not entirely about the value of the pound or the cost of living. Many of those who voted in favour of leaving the U...
Another One Bites the Dust
20 NovThe Recusant0
Seems rather shallow to fault Franken for a tasteless comedic prank after electing the "grab them by the p*ssy" adulterer to the presidency.
Another One Bites the Dust
18 Novdennyc1
I happened to read one of Franken's book about all of the hypocrites in office, business,etc. his sanctimonious air notwithstanding I thought the g...
Brexit, Gold and Harold Wilson's 'Pound in Your Pocket', 50 Years On
18 Novkevthorne
A well informed article, giving the insight into what Brexit will really mean for the UK.
What Now?
14 NovThemis
Kunstler has a talent for summarizing complex situations in a pithy and entertaining way. The Middle East is being reduced to a drawn out proxy wa...
Spanking the Monkey
14 Novprljr
They wonder why Russia Today has such a big following. Real news is much more interesting than the MSM circus. Especially when you question more.
Spanking the Monkey
12 NovGypsy
James, I've been wondering about the Hollywood Spank the Monkey thing ever since the advertising firms came out with their "Can't Wait to Get Their...
Most commented articlesFavoritesMore...
World PM Newsflow
ALL
GOLD
SILVER
PGM & DIAMONDS
OIL & GAS
OTHER METALS