Stock Market Technical Indicators & Analysis
I want to show you again why I think gold is entering a major Stage 4 down-trend. Take a look at this weekly chart of the gold ETF, GLD. The 30 week average (red line) has almost turned down. Click on chart to enlarge. I am short GLD by holding put options. Another way to short this index is to buy DZZ, the double short leveraged ETF.
I have been writing for weeks about the developing Stage 4 decline in gold. Check out GLD today.
Short and long term trends remain up. Surprised by Monday’s strength, but remain long.
A friend (thanks, Beth) alerted me to this possible cup and handle formation in EMN. Check out this weekly chart. A close above $55 on high volume would be a good sign of a break-out.
