649bruno
Short

Update: XME Continues Weaker, Multiple Fractal Sell Signals

AMEX:XME   SPDR S&P METALS & MINING ETF
20 0 4
Eight days ago I published an 8 year chart down-trend for-XME.
This is what I wrote:
"I have owned XME-this year. I sold a month ago when it was 7% higher. Why ?
Caveat Emptor ! This is Latin for "Let the buyer beware."
From a technical perspective, XME-is at an 8 year down trend line .
I say "Caveat Emptor", let the buyer beware.".....
End of recap.
XME-has continued weaker, dropping from $27.47 to $26.09 this past week.
I believe the path is lower.
1. The last four Fractals have been sells.
2. The phase energy (lower indicator) is below the zero line.
3. The 5/34 momentum (middle indicator) is trending down.
4. RSI / Stohastic (top indicator) is rolling over.
5. The alligator is feeding in the down-trend.
6. The thick golden line (233 unit EMA ) has been breached.


Fractal MEST (momentum, energy, space, time) are all down.

If you are long I would use any strength to exit. Good luck to you in all your trades. Don.
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