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Casual investor with a flair for investing.
  • Markets -- where we stand 0 comments
    Jun 24, 2009 11:20 PM

    For those that follow my posts -- sorry, I was away for a bit and am back.

    Boy, have the markets changed! Here is where we stand:

    S&P and Dow -- Sell signals on Daily charts, no Sell signal on Weekly chart.

    Nasdaq -- came perilously close to a Sell signal on Monday, June 22, 2009 Daily chart but saved at the end of day. So no Sell signal on either Daily or Weekly chart.

    Gold -- Sell signal on Daily chart; no Sell signal on Weekly chart.

    US$ -- A week Buy signal confirmed today on the US$ chart. Still a Sell on the weekly chart.

    What does this all mean?

    The markets are in a somewhat uncertain state. If we get a couple of days of intense sell-offs we will most certainly have a Sell on weekly charts as well which will mean the end of this bull rally. However, the markets are holding their ground the past couple of days. The S&P managed to close above the psychologically important 900 number today. That is good. If we close this week with a reasonably decent increment from current levels then we all can breath a sigh of relief. If Gold can break through $940 and close up beyond 940 we will be in good shape with our Gold stocks.


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