Saturday, April 20, 2013

Retest coming EOM rally?

 First we have Ninja trader calling a low in the Spy.
Others to consider are new highs, railroads all turned up.


"The Fed is currently buying $85 billion worth of U.S. Treasury and mortgage-backed bonds every month, and is expected to vote to maintain that pace at its upcoming meeting on April 30-May 1.  "
 This I built with Gann angle boxes, and yes we did over shoot so low will be later than I thought.
I will rework this chart when time permits.

I think this is where we are with wave A in and on our way to retest the high with a failure I hope.
Copper is out of control, with other metals that
surpport  a robust ecomony  not happening I can get sober.
There is talk of a housing bubble as we speak.

Sunday, April 14, 2013

Copper and Silver going to pull us down?

 Here we have copper, can't get out of it own way.
How can it be going down if we are having a strong housing market and cars are selling like crazy??? Don't know but it's not good.

SLV  against the $spx cash.
Gold has broken support but as yet SLV is hanging on. ( no chart)
I don't see how SLV can diverge the SPX with out a pull down.
I consider SLV more of an industrial metal.