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Sunday, December 4, 2011

Bullish Signals Galore.....But We Are Not Out of the Woods Yet

The S&P 500 index remains in a trading range. The cyclicality of the S&P 500 has not been lost on us, and we suspect that we may see this index consolidate and move higher for the balance of December. The Trade Triangles are not confirming the current up move, at the moment. Long term and Intermediate term traders should either be in cash or continue to hold short positions in this index with appropriate money management stops.

Despite the move up and pullback in gold today, it did not change the status of our weekly Trade Triangle. We remain positive on this market and expect we will see it move much higher in 2012 as inflation kicks in around the world. Long term traders should remain positive for this precious metal. Intermediate term traders should be out of this market at the moment and on the sidelines waiting for a buy signal with the weekly Trade Triangle.

The $101.75 area basis the January crude oil contract appears to be offering resistance for this commodity at the present time. Crude oil remains the shining star of the commodity world and has become the currency of choice. With all of our Trade Triangles green, giving us a +100 Chart Analysis Score, it would appear as though we are in a strong bullish trend. At the present time all our Trade Triangles remain in a positive mode which is the direction of the major long term trend. Major resistance remains between the $102 and $103 levels. Long term, and intermediate term traders should be long this market with appropriate money management stops.


The Currency War Big Picture Analysis for Gold, Silver & Stocks

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