Seeking Alpha

InvestBaboo's  Instablog

InvestBaboo
Send Message
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.

     

Back To InvestBaboo's Instablog HomePage »

Instablogs are blogs which are instantly set up and networked within the Seeking Alpha community. Instablog posts are not selected, edited or screened by Seeking Alpha editors, in contrast to contributors' articles.

Comments (0)
Track new comments
Be the first to comment
Full index of posts »
Latest Followers

StockTalks

More »

Latest Comments


Instablogs are Seeking Alpha's free blogging platform customized for finance, with instant set up and exposure to millions of readers interested in the financial markets. Publish your own instablog in minutes.