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
Top Ten Reasons I Buy Gold Silver [#7] - These Assets Come With a ...
21 Sepvictoriashores1
HI Jeff I have read your articles with a lot of interest in your feelings with the future of Gold and Silver. I'm 75 years of age and have ...
What Is the Correct Amount of Money?
20 Sepgfs543
If money is the heart of the economy, then the economies of the world are running with diseased hearts. Keynesians and other monetary intervention...
Pushback
20 SepGypsy
James, you're getting more difficult to read. As a Deplorable, I realize my under-education leaves me at a disadvantage when faced against the Mer...
Pushback
18 Sepdennyc3
If a university professor has been on the job for more than five years without venturing out into the world there's usually nothing to learn here. ...
Rude Awakening for the US in January? No, Just More Alarmist BS Fro...
18 SepDRGEORGE
The world & the US $ have been on the brink for 10 years (or more). In 2008 it nearly happened but giving the 1% a stack of money saved the day. It...
'No evidence' of gold market manipulation, CPM Group's Christian in...
15 Sepneville
Despite being a so-called GOLD website ,I have read more anti GOLD articles on kitco than on any other site. Yes chris you are absolutely corre...
Rude Awakening for the US in January? No, Just More Alarmist BS Fro...
15 SepSilverthumb2
I used to enjoy listening to Rickards. He sold out when he signed on with Agora Financial. Now he's just another ranting alarmist trying to get ri...
What's Killing the Jobs Market?
13 SepJ.0
It is hard to know where to begin to respond to your comment Recusant. You do not seem to understand how markets work. So, I'll throw out some po...
Most commented articlesFavoritesMore...
World PM Newsflow
ALL
GOLD
SILVER
PGM & DIAMONDS
OIL & GAS
OTHER METALS