This ones for Blgolfs59 over at Yahoo, .. we had a quick chat about TRX, I just want to demonstrate the Cup & Handle formation.
The handle should pull back roughly 33% and TRX is looking good in that regards. Many PM stocks are forming a nice cup but several are not forming a proper handle, Cash-Gold is one of them (2nd chart).
I haven't looked at this formation in regards to MUX lately, but I will soon.
LINK:
screencast.com
BELOW:
This is Cash-Gold, ... as you can see the handle is not leaning lower, .. like it should. Its leaning UP, ... and this is not entirely out of the ordinary, ... its just not a solid signal.
It does not mean that it wont move higher, .. it just says that the strength of this formation is not that powerful.
We all need to stay alert and aware of a major bear-trap, it wont take much for the Cartel to inject fear into the PM markets. Where is "TALL" when you need him, ... (Gimli) from the Yahoo board, I sure miss his humor.
LINK:
screencast.com
 |
