=============
ChartsEdge Daily charts for Dec18
Posted: December 17th, 2009 | Author: Mike Korell |
=============
In my own personal comments, gratified to see oil and gas push up while gold remains a bit lower, though not glad for the reason. The oil chart indicated it should go up, and I'd started to wonder in the past couple of days if it would take an event to impel oil up (while for gas, it just seems to be time for it to rise again). Well now they're talking about that on tv (something about Iranian troops incursion on an Iraqi oil field). For that matter, Raymond Merrimans comments for this week had mentioned the increased probability for startling events at the end of this week. So there you go .... Well in any event, it's Friday and a great time to settle out for the week!
We didn't get as much rise in equities this week as many expected and maybe it coulda gone either way. But as I've pointed out, there's been serious selling volumes in the euro, yen, and gold. That can mean a downtrend in these (and uptrend in the dollar), which we should look into this weekend. There have been competing theories about what a turn in gold and currencies would signify and we should be closer to answers.
Meantime, get into position to enjoy your weekend as well ad the holidays, whichever holidays you and yours observe. All this market trading is just to support your happy life (not vice versa). So careful out there as always, and happy market navigating!
Posts
No comments:
Post a Comment