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Re SPX, look at the RSI divergence at the top & the confirmation during this pull back. Plus the 50hr MA has crossed below the 100hr. All added to the extreme bullish sentiment indicators. If the correction accelerates, what is your downside target? 1925? Or below?
Also, the silver technical position is looking really stretched. Might be worth a look. Rally possible beg July?
I've been watching silver eagerly. I would like to be a buyer if it falls to 17.5. Somehow, I still think the decline is not over and the market didn't hit the very extreme to lift it up to the other side. But that's just me.
Good comments.
ReplyDeleteRe SPX, look at the RSI divergence at the top & the confirmation during this pull back. Plus the 50hr MA has crossed below the 100hr. All added to the extreme bullish sentiment indicators. If the correction accelerates, what is your downside target? 1925? Or below?
Also, the silver technical position is looking really stretched. Might be worth a look. Rally possible beg July?
Check this out:
http://shortsideoflong.com/2014/06/silver-still-deciding/
http://www.24hgold.com/english/contributor.aspx?article=5538221690H11690&contributor=Alasdair+Macleod
Rgds
Again, re silver check this out.
ReplyDeletehttp://www.marketanthropology.com/2014/06/silver-still-seeing-forest-for-trees.html
I've been watching silver eagerly. I would like to be a buyer if it falls to 17.5. Somehow, I still think the decline is not over and the market didn't hit the very extreme to lift it up to the other side. But that's just me.
ReplyDelete