Chart usGOLD   Chart usSILVER  
 
Food for thought
A mine is a hole in the ground with a liar on top
Mark Twain  
Search for :
LATEST NEWS  :
MINING STOCKS  :
Subscribe
Write Us
Add to Google
Search on Ebay :
PRECIOUS METALS (US $)
Gold 1214.50-1.50
Silver 17.71-0.10
Platinum 1326.50-6.75
Palladium 805.50-4.50
WORLD MARKETS
DOWJONES 1728013
NASDAQ 4580-14
NIKKEI 16206-115
ASX 5368-69
CAC 40 4452-10
DAX 9772-27
HUI 208-4
XAU 89-2
CURRENCIES (€)
AUS $ 1.4474
CAN $ 1.4108
US $ 1.2849
GBP (£) 0.7863
Sw Fr 1.2068
YEN 140.1130
CURRENCIES ($)
AUS $ 1.1266
CAN $ 1.0979
Euro 0.7783
GBP (£) 0.6120
Sw Fr 0.9393
YEN 109.0480
RATIOS & INDEXES
Gold / Silver68.58
Gold / Oil13.19
Dowjones / Gold14.23
COMMODITIES
Copper 3.04-0.05
WTI Oil 92.06-0.35
Nat. Gas 3.83-0.01
Market Indices
Metal Prices
RSS
Precious Metals
Graph Generator
Statistics by Country
Statistics by Metals
Advertise on 24hGold
Projects on Google Earth
Technical Trades Of the Week – SPX, Dollar, Nat Gas
Published : December 16th, 2012
425 words - Reading time : 1 - 1 minutes
( 0 vote, 0/5 ) Print article
 
    Comments    
Tweet

 

 

 

 

Yesterday’s price action was very bearish yet again and we are patiently waiting for a counter trend pullback to happen. While three are some good looking plays out there I really do not want to get long until the market clears the air with a bout or three of strong selling. Remember 3:4 stocks follow the market and the odds of picking a commodity or ETF that bucks the trend is unlikely. If you are interested in powerful stocks & ETFs the buck the trend check out my FREE Trading Ideas live Go Here: https://stockcharts.com/public/1992897

 

SP500 / Broad Stock Market:

 

We have seen a bug run up in stocks this month and things are looking a little long in the teeth. A large number of stocks are trading above their upper Bollinger band and the broad market is testing that key resistance level also. Typically when a Bollinger band is reached we see price reverse for a couple days at minimum.

 

While the equities market is in a new uptrend as seen by the moving averages I pullback seems imminient. The last two days has formed reversal candles and are pointing to lower prices.

 


 

Dollar Index Hourly Chart:

 

This chart shows a possible bottom forming in the dollar pointing to a 3-8 day pullback in stocks.

 


 

Gold Futures Hourly Chart:

 


 

Natural Gas Hourly Chart:

 


 

Morning Trading Conclusion:

 

Looking at the charts on several different time frames, not all shown here, technical analysis shows a pullback in stocks is highly likely. This is what we are currently positioned for.

 

The US dollars downward momentum is slowing and if it can find a bid today it should trigger strong selling in both stocks and commodities. Gold and silver are down sharply along with miners.

 

We have been watching natural gas for a few months and know that it has been trading inverse to what stocks do. This bodes well for a bounce in natural gas if stocks start a sell off. That being said, natural gas is trading at a key tipping point that could spark a very fast and hard drop. This knife can fall at a speed that will take a slice out of your trading account if not traded and managed properly (tiny position and use of a stop). I actually like natural gas the more it moves down and could issue a buy alert on it today or this week. I would like to see volume decline at this level showing the momentum is slowing

 

Chris Vermeulen

Editor, the Gold and Oil Guy

 

 

 

Tweet
Rate :Average note :0 (0 vote)View Top rated
Previous article by
Chris Vermeulen
All articles by
Chris Vermeulen
Next article by
Chris Vermeulen
Receive by mail the latest articles by this author  
Latest comment posted for this article
Be the first to comment
Add your comment
TOP ARTICLES
Editor's picks
RSS feed24hGold Mobile
Gold Data CenterGold & Silver Converter
Gold coins on eBaySilver coins on eBay
Technical AnalysisFundamental Analysis

Chris Vermeulen

Chris Vermeulen is a trader and newsletter writer specializing in the price of gold GLD ETF, Junior Mining and Energy Stocks listed in the US, Canada and Australia. Please visit his website for more information.
Chris Vermeulen ArchiveWebsiteSubscribe to his services
Most recent articles by Chris Vermeulen
9/20/2014
9/6/2014
9/3/2014
8/23/2014
8/19/2014
All Articles
Comment this article
You must be logged in to comment an article8000 characters max.
 
Sign in
User : Password : Login
Sign In Forgot password?
 
Receive 24hGold's Daily Market Briefing in your inbox. Go here to subscribe or unsubscribe.
Disclaimer