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XAUUSD DAILY CHART - MAKE IT OR BREAK ITWith all the NIRP's and ZIRP's flying around in an economy based off fraud and debt, this was expected, and now we have the start of the technical indicators to back it up :) - Just as the GDX, we have a beautiful parabola, followed by an attempt to go to 1180, which was rejected by the bulls - This creates the bull flag / pennant that was see now, which was just broken out of to the upside - By finishing this day (April 11th) above the 23% fib retracement, I believe we have invalidated any head and shoulders pattern, as the left shoulder failed to do this - This is vital, for if we drop lower from here, that is a classic Head and Shoulders pattern, which would launch us to 1180 no problem, so this is why it is a "make it or break it" time for gold ... - We are out of our 'middle tier' channel, and back into a smaller and much weaker channel - This leaves me with some concerns but the same thing applies as to the GDX; - If it can break and hold above this channel and price action of 1270, that's when we should see the confirmation of a bull market, short term at the very least Feel free to comment with questions or ideas :) Happy Trading!
FX:XAUUSDLong
by AwareBear
FXMM could be building a bullish 5 wave, or is it really?FXMM continues growth after breaking 1220 resistance. It is building a bullish 5-wave pattern unless it breaks below broken resistance point (dotted red). The bullish momentum can mark the start of the new uptrend that can last for several years and most likely complete wave 5 at 1.618 fib level(1301.09). A bullish breakout above this level could see wave 6,7,8,9 push to the next Fib targets. The support zone 1114.4-1090 stays valid. We most likely will retest this levels if the Elliott Wave pattern breaks. I will recommend to buy a break to the upside, with profit targets based on structure support.
RUS:FXMMLong
by radixvinni
7
SPHS Oversold, Filling the Gap, cash/share > share priceSophiris Bio had a Phase III drug trial test showing the drug was not effective and the market overreacted. The chart has a cash/share value (mrq) of $1.74, the float is 16.78 Million Shares (note today's volume alone is a large part of that), so with a tiny float, more cash per share on hand than the market price, and upcoming results for new Phase III results for other products, one can see why people are buying this up right now.
SLong
by trademan1
2
SPY limit expousure and react quickly #SALT #TepperFrom SALT Conference in Las Vegas on Wednesday evening. Tepper has one of the best long-term performance track records in the hedge fund world. "I think we're OK. But, listen, there's times to make money and there's times not to lose money. This is probably you're supposed to think about preserving some of your money...I think you can still be long, but I think you're supposed to have some cash now." "It's funny people think we're always bullish." "I am nervous. I think it's nervous time." He said the market is probably OK. "But it's getting dangerous." "I'm not saying go short. Just don't go too friggin long." Read more: www.businessinsider.com
AMEX:SPY
by andrew.berg