Courtesy of The Market Guardian By Bob Prechter The following is an excerpt from Robert Prechter’s Elliott Wave Theorist. Elliott Wave International is currently offering Bob’s recent Elliott Wave Theorist, free. On February 23, EWT called for the S&P to bottom in the 600s and then begin a sharp rally, the biggest since the 2007 [...]
GLD ETF – Weekly Chart I like to be bullish on precious metals but these charts don’t provide much comfort. I will admit there are bunch of different ways to draw this gold chart which can make it look very bullish. But we cannot forget that the market will hurt the most individuals possible and [...]
By Susan C. Walker AIG just made a BIG comeback: it announced its first profitable quarter after seven quarters of losses on Friday. (Let’s all light a CIGar and celebrate, since taxpayers helped bail it out to the tune of $180 billion.) So why shouldn’t the rest of us DIG into our pockets to show [...]
Here’s the seasonal chart below. We can see that we are at a key time for the gold seasonal. Lows are usually made right at the end of August. Interestingly, we are only about 30 dollars above the July lows, and the choppiness we’ve seen in gold is actually what the seasonal suggests this time [...]
October gold closed higher on Wednesday due to short covering as it consolidated some of Monday’s decline. The high-range close sets the stage for a steady to higher opening on Thursday. Stochastics and the RSI remain bearish signaling that sideways to lower prices are possible near-term. If October extends this week’s decline, the reaction low [...]
* Investment demand for gold remained very strong in the second quarter of 2009, rising 46% on year earlier levels as investors continued a flight to quality. Overall demand for gold fell back from recent high levels as weak economic conditions and high gold prices combined to impact demand, according to the Q2’09 Gold Demand [...]
Courtesy of Brandon at Trading Wall Street Investments Using moving averages for indications of trend and the velocity of trend is very effective. Typically, we do not see much use for them as buy and sell signals but do see them as very helpful in timing trades. A standard moving average can help traders know [...]
* TANGIBLES ARE “IN”: “Tangibles are growing in strength. From the metals, natural resources, energy and food, these markets are rebounding strongly and they’re poised to continue rising in the years ahead. Demand is the driving force, making commodities a powerful market. The Chinese are astute investors. They’re buying up lots of hard assets and [...]
I hope everyone had a great weekend and is now ready for another week of trading. I have put together a few simple charts to show you what we could see with prices in the near term. While I do not predict future price movements (because it is impossible to always be correct), I do [...]