Did everyone notice that oil sold off hard yesterday, while the market rallied hard? I was once asked how the market could go down hard if oil is planned to go up to $150.00-$200.00 per barrel… there’s your answer.
They don’t always go in the same direction, just like the dollar and the market go in opposite direction right now… it doesn’t always stay like that.
That is a ritual date I’m sure, but I don’t know if the market will churn sideways that long or not? That would imply that Monday the 10th would be the DIA print high and then something happens afterhours that day or early Tuesday morning.
It could happen that way, as nothing says we have too go up to DIA print this week. We could drop back a little and retest some lower levels, and then have the usual “Bullish Monday” on the 10th, tagging the DIA print. It’s certainly possible.
Did everyone notice that oil sold off hard yesterday, while the market rallied hard? I was once asked how the market could go down hard if oil is planned to go up to $150.00-$200.00 per barrel… there’s your answer.
They don’t always go in the same direction, just like the dollar and the market go in opposite direction right now… it doesn’t always stay like that.
Gold might be prettier, but Silver is a better buy. It gets used up… unlike Gold, so I can easily see it hitting that FP once a real squeeze begins.
http://i7.photobucket.com/albums/y258/redripple2/ComexPriceDifference.jpg
Just showing you how people consider Gold real money and enough people are willing to pay about $230 over the COMEX ask price for gold.
Silver spent weeks around 29.10 to 29.30. If we fall through this support look for a strong support around 28.50.
Good calls.
EURUSD Chart
http://niftychartsandpatterns.blogspot.com/2011/01/eurusd-support-and-resistance-levels.html
Hey, George must be getting old….didn’t the illuminati tell him to NOT mention the new world order? LOL
Hey, George must be getting old….didn’t the illuminati tell him to NOT mention the new world order? LOL
That is a ritual date I’m sure, but I don’t know if the market will churn sideways that long or not? That would imply that Monday the 10th would be the DIA print high and then something happens afterhours that day or early Tuesday morning.
It could happen that way, as nothing says we have too go up to DIA print this week. We could drop back a little and retest some lower levels, and then have the usual “Bullish Monday” on the 10th, tagging the DIA print. It’s certainly possible.
S&P 500 Futures chart
http://niftychartsandpatterns.blogspot.com/2011/01/s-500-futures-before-opening-bell_04.html