Buy and Sell Signals, and Other Market Perspectives Message Board

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Strategies & Market Trends : Buy and Sell Signals, and Other Market Perspectives

SPY 675.37

-1.2%

4:00 PM EST

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To: GROUND ZERO™ who wrote (90667)	3/16/2017 2:24:38 PM
From: Underexposed	4 Recommendations Recommended By 3bar GROUND ZERO™ John Pitera Qualified Opinion Read Replies (2) of 218382

My update on the price of gold..... Well... Stockcharts did finally update that chart with the after hour gains so here the chart I looked at on Message 31032047 Now this is the chart they now show for that last day Even with that nice bounce yesterday there is not much of a difference in the indicators, is there.... The slow Sto was raise a tiny bit out of the mud...a tiny adjustment to the slopes of the MACD and BBWidth. Now it is normal in a consolidation period... (this is a bear consolidation) that the price tends to gravitate to the 20 day SMA... well this may be a start of that gravitation. Let's have a look at the P&F chart again this is still working on updated yesterday numbers there is a rather broad based resistance between $1215 -1225....the red number below is where stockcharts had the EOD number. How is the price of Gold faring today... well I look at FinViz for that Well as you can see the gold price has been fighting that upper level of the resistance band all day...Briefly breaching it at the start of the day but falling back to it by day's end. Gold is such a fickle mistress... I don't trust the bitch anymore :) Looking at the sharpcharts again I still see gold in a bearish mode... at best it will head only to the 20day sma which for very short term traders may be ok.... at worst it will stop playing games ant continue to be a bear... I still favour the latter.

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