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Politics : Stockman Scott's Political Debate Porch
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To: T L Comiskey who wrote (1702)7/10/2002 11:07:57 AM
From: Jim Willie CB  Read Replies (3) of 89467
 
gold indexes are in critical zone now, unsure up/down

HUI went farther up yday than I expected with the crappy looking stock picture
why do stocks look to Bush for inspiration?
HUI topped at 137 yday, now 133
the little shorterm downtrend tilted peaks recently offer some resistance
dunno how important that is
instead, support at 120 might have been far more important

HUI shows a bearish pennant, bear triangle still apparent
HUI could find support with its trio of Moving Avgs here
but it also could find resistance from two sources
first, the declining recent peaks
second, from hitting the former supporting uptrend line
now it is hitting that same uptrend line from below

XAU jumped yday also, up to 78, now 75
it is now firmly in the midst of all three MA's
the 18MA, 30MA, 50MA
it is now bumping up against them from below
while seeing a little downtrend of its own from declining peaks

this is a tenuous situation for golds
nothing looks clear on direction

meanwhile gold metal came off #316
now at #315
but silver spiked up to #511, now back to #501

I still think golds are struggling
they are back to becoming linked to declining stocks though
they are moving together now, inversely
/ jim
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