Thursday, August 21, 2014
Tuesday, August 19, 2014
Silver ETF (SLV) versus the $USD Dollar index, weekly chart
As mentioned earlier, both do NOT rise in tandem
The $USD has a clear "problem" with the 82 level
SLV is almost re testing once again that key support level
Gut feeling? Gold and Silver are way oversold, and still in a wide channel pattern.
The $USD now a safe heaven ? We shall soon find out
Monday, August 18, 2014
3 things to focus on concerning ICPT ;
1) Key resistance (circle) price is right on that level
2) Candle reversal, yes we did get good news/volume, but that candle reversal should be a warning sign.
3) The "key level" means, now price needs to remain "above" that level and rise
4) We do have a "gap", will we first close it and rise again?
5) Bearish scenario? Price dips below 250
So far, bullish signal is intact, but we do have a few "warning signals"
Sunday, August 17, 2014
Gold ETF $GLD weekly chart;
Downtrend is clear
Double bottom clear, followed by higher lows, pattern intact so far
Focus on these two recent patterns (see red arrows on chart)
The bullish scenario ; GLD breaks out above 127.5, and remains above it next week.
The neutral scenario ; GLD dips below 122.5, then rises to break out above the blue trend.
The bearish scenario ; GLD dips hard below 120 (doubt it)
We are all waiting for the iphone 6. Key question ; is it priced in ?
We shall soon find out
Trading system is still bullish with NO apparent divergences, we just have a tiny trend line
that is currently acting as a resistance
Double top pattern? Too early to say, just focus on that warning level
Otherwise, stay long
Bearish reversal could occur if the market $SPX goes below 1930
Thursday, August 14, 2014
Agricultural ETF clearly oversold !
The key level to focus on is probably its key support level
2 trading strategies come in mind here ; that huge move up is either a huge wide ABC pattern, or we just faced the biggest fake move ...
Gut feeling speaking here, money will come out of global indexes and park itself "somewhere"
Bullish on that sector, but also buying insurance with put options