At 8.89, it would complete a bullish crab pattern that would also coincide with the bottom of its channel. Might take another look at playing the upside, but doubtful.
First, I don't expect the market to make any serious advances anytime soon. Second, if I changed my mind, I wouldn't play the upside with BAC.
anything else on gold?
ReplyDeleteHaven't been watching it, but that's quite a reversal. I might get myself in trouble with fellow doomers here, but I think the dollars going to do just fine in the short run. I'm also not particularly concerned about inflation in the short run. The tech picture hasn't changed from ystdy, other than we got more of an extension on the pattern. Should make for a stronger reversal.
ReplyDeleteCNBC was all gold, all the time today.
ReplyDeleteI think gold and the dollar are gonna rise together and people will be dumbfounded as to how that's possible.
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