“The stock market will correct due to the end of QE2”, seems pretty presumptious to me. The QE2 money that the government gets back via maturing bonds will be reinvested back into those banks (according to Berspanke), so they really aren’t taking any liquidity off the table per say. If the job numbers do not support a recovering economy, what do you think the FED will do? He will ease more, that has been considered bullish in the past. As long as we are in an uptrend, long will be the trade IMO.
SLV is the silver etf. Silver/Gold tends to hold steady or rally during corrections in equities. I compare precious metals with the dollar (/dx).
Silver pulled back to its center bb on the weekly chart and has bounced since. The stock market will correct due to the end of QE2, monthly DOW RSI at 100 and weekly turning over. So i honestly think its apples to oranges.
Aren’t thier Gold/Silver/oil ETF’s and company stocks on the stock exchange? The fall in the market has been impacted negatively by the fall in commodities, so why eouldn’t a subsequent rebound in commodities pull the market back up with it? We are still in a very real uptrend aren’t we?
Crude is going up now, and silver is bouncing too. We’ll see how far they can push the market? Remember, we don’t have to hit the FP now, it could be hit later this year.
I dont see much of a bullish case until we come down to SPY 132.30 which is the daily 50MA. Its also the head and right shoulder trendline. VIX is trying its damnest to hit the daily 200 day MA, which will bring the market down. I do believe silver has decoupled from equities and head higher while equities go lower. I have july calls on SLV. All thre debt crisis news and the mid east news is bullish for gold/silver.
SLV Chart:
http://niftychartsandpatterns.blogspot.com/2011/05/slv-near-gap.html
You got your test of 1350 SPX,.. you happy, pappy? LOL
“The stock market will correct due to the end of QE2”, seems pretty presumptious to me. The QE2 money that the government gets back via maturing bonds will be reinvested back into those banks (according to Berspanke), so they really aren’t taking any liquidity off the table per say. If the job numbers do not support a recovering economy, what do you think the FED will do? He will ease more, that has been considered bullish in the past. As long as we are in an uptrend, long will be the trade IMO.
Well we had heavy FP activity on IWM recently indicating a rally at least over 86 on IWM, so I think the next few days are bullish at least!
LOL… tells us what’s going to happen tomorrow future man!
I am a future human. By the time I write this, it will have been at least 5 more seconds.
SLV is the silver etf. Silver/Gold tends to hold steady or rally during corrections in equities. I compare precious metals with the dollar (/dx).
Silver pulled back to its center bb on the weekly chart and has bounced since. The stock market will correct due to the end of QE2, monthly DOW RSI at 100 and weekly turning over. So i honestly think its apples to oranges.
Aren’t thier Gold/Silver/oil ETF’s and company stocks on the stock exchange? The fall in the market has been impacted negatively by the fall in commodities, so why eouldn’t a subsequent rebound in commodities pull the market back up with it? We are still in a very real uptrend aren’t we?
Crude is going up now, and silver is bouncing too. We’ll see how far they can push the market? Remember, we don’t have to hit the FP now, it could be hit later this year.
I dont see much of a bullish case until we come down to SPY 132.30 which is the daily 50MA. Its also the head and right shoulder trendline. VIX is trying its damnest to hit the daily 200 day MA, which will bring the market down. I do believe silver has decoupled from equities and head higher while equities go lower. I have july calls on SLV. All thre debt crisis news and the mid east news is bullish for gold/silver.