The three major acceleration lines are not broken yet. Any breakout above the red line at $104.06 would be a good bull situation. Counting on the overextended Biotech for the run is quiet unreliable at this point of time. On the flip side, the Acceleration 3 line breaking would initiate a Down trend with consolidation to follow (trend transition period), That's enough outlook for now.
Counting on Techs / Energy. The renewable energy fever is fading like the Global warming crisis. The Dollars are extended, which should positively impact local companies.
GOLD currently has a . will cover that in the GC chart.
The Point is are we going to the parent trendline?
Btw, anyone reading this know the symbol for the Put call ratio on tradingview?
I would like your opinion on whether the "divestment" movement led by 350.org is having an economic impact. This is a movement backed by Rockefellers that convinces acad/corp pension funds to drop natural resource holdings.
Secondly electric cars...... The efficiency of a electric generator is 75%, Transformer efficiency is about 98%, by the time it reaches the customers, there are atleast 4-10 transmission stations, do the math. transmission losses are about 2-5% depending on the voltage. Consumer losses etc.... (.75*.98*98*.98*.98.*95 = 0.64 = 64%) Cost of power production also varies, based on the sources (Gas, Nuclear, Hydro, Renewable) We all know that renewable energy is not cheap. The cheapest is Geothermal and Combined cycle power plant. Imagine if the Utilities have to take a shift from CCPP (combine cycle) to Renewable, out utility bills would quadruple. "http://en.wikipedia.org/wiki/Cost_of_electricity_by_source" Not that, this is bad, I work in the sector, creates job etc..... Creating job could have been another reason for this renewable resources....
This renewable energy is obviously not a cheaper alternative by any means. Only benefit is conserving the nature reserves by paying the cost now, for future.