Bullish Price Objective Met
Bullish Price Objective Met
If you’re a sub then you probably remember that point & figure SPX chart I have been pimping here for a while. And would you know it – today’s spike into the collective hearts of all bears actually propelled us to our projected bullish price objective:
Frankly this happened a bit quicker than I anticipated but heck – I just work here. No matter what happens next – you do not want to be long moving forward. If you managed to ride this puppy all the way up to 1395 then this is your golden clue to head for the hills and call it a trade. Buy yourself a new toy or two and enjoy your ill gotten gains in style like the socially depraved bear stomping retail chumps hunter that you are.
Before I head for dinner I’ve got two more P&F charts for the subs:
[amprotect=nonmember] More charts and cynical commentary below for anyone donning a secret decoder ring. If you are interested in becoming a Gold member then don’t waste time and sign up here. And if you are a Zero or Geronimo subscriber it includes access to all Gold posts, so you actually get double the bang for your buck.[/amprotect] [amprotect=1,13,9,12,5]
Gold has been slowly riding lower and is now starting to get really interesting. Personally I am really curious as to what’ll happen when/if we reach 1650. Even if you’re not a P&F chart aficionado the support lines are pretty clear. You may also want to note that gold is sitting on its 100-month SMA right now – a drop below is not exactly a trend change but it would be a good start.
And then we have old bucky clinging to the magic 80 mark. I’d really like to see a push above 80.5 but this could take its merry time. The bulls have been exploiting months of sideways tape on this one most brilliantly.
[/amprotect] Cheers,
