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Strategies & Market Trends : Buy and Sell Signals, and Other Market Perspectives -- Ignore unavailable to you. Want to Upgrade?

To: GROUND ZERO™ who wrote (44247)	1/20/2013 7:10:05 PM
From: Vendit™	1 Recommendation Read Replies (3) \| Respond to of 218671

My chart annotations tell the story but here is what I see for $GOLD on TUESDAY (gg) 1- Friday’s daily candle is an inverted hammer and is saying that this short term up trend has ended. 2- The lower Andrews Fork tine has been the trend support for the last ten trading sessions so it contradicts the candle. 3- Friday shows a significant drop in daily volume which means that Gold Bulls exited but it may just be white noise based on the above two indicator and the long weekend. 4- The first indicator that shows directional trend change is Williams’s %R. It is flashing a sell signal that is not confirmed but is headed there. 5- Stochastic is always the second lower indicator to confirm William’s and it also is flirting with a sell. 6- All indicators are in their sell zones but that is not a guarantee that Gold will fall. My read is that Gold will tread sideways to slightly up on Tuesday. IMHO Vendit