I am a bear here...I think the markets are way overbought. BUT as a trader, I have to keep reminding myself that it doesn't matter what I think the markets are going to do, but what the indicators tell you they will do.
Jack Steiman of Swingtradeonline, who I think is an excellent chartist, visually makes some good cases for a weaker Dollar and a strong banking index (SPX) from here. In this case he uses Flag Patterns, which are among my favorite technical indicators. Obviously, if both prove out to be true, equities will be a lot higher then they are now.
Jack Steiman of Swingtradeonline, who I think is an excellent chartist, visually makes some good cases for a weaker Dollar and a strong banking index (SPX) from here. In this case he uses Flag Patterns, which are among my favorite technical indicators. Obviously, if both prove out to be true, equities will be a lot higher then they are now.
(Clicking on the charts give you clearer views):
AND
This is the reason that I always try to hold Gold and not worry about how far down it is from where I bought it. I made significant profits on it last time and now own it again. If the Dollar does resume down from here, Gold is likely to get close to $1000 oz again.
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