spx weekly update - syria tension

Well it was a very interesting week this week, with the end of the month shenanigans playing out perfectly, and much tension building over in Syria as Obama lost support from his major allies, and is still contemplating whether or not to launch an attack to punish the Syria regime for using chemical weapons on its civilians.

Last week we did warn our readers that the weekly chart was not looking healthy at all. We closed out this week at 1632, and as you can see, that this week the bears continued to do damage to the market, and this is normal into a 3 day long weekend coming. Market reversals played out quite nicely and the tensions in Syria helped the bear case also.

Divergence in the MACD histogram, and also the fact that the smart money will be back in SEPT is leading us to think this market might not be done on the downside quite just yet. But this is just a guess. We go more into detail in our VIP MEMBERS SECTION HERE, about what could happen in the next 4 weeks.

Due to the labor day long weekend, things will not get busy till Wednesday, so we will be updating our VIP members only, and will not be back till WED - THURSDAY next week.

Happy trading.

SPX weekly update

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spx weekly chart - what does it tell us

This is another favourite chart to watch amongst our  VIP MEMBERS HERE

As you have noticed we have been watching the weekly SPX chart very carefully! You have to love this chart if you are a trader, small or large as it really shows the power and how much the government has kept the markets afloat with their bullshit printing off of money.

"Hey you, check out this money we just printed, lets chuck it in the market!"

That is an awesome idea.....NOT! :-P

I can sit here all day and tell you how stupid the government is, and how much they love to work against you in your day to day life.....can you say *cough* Edward Snowden *cough*  haha. LOL.

Yes I can ream on all day about the government, but realistically I wont waist my time because it will not help you make money on the market.

Back to the charts : So in laymens terms the weekly chart has  now busted out of a nice rising channel it has been in since DECEMBER 2012. The stochastics and macd are also on a sell signal right now, so we have a big warning sign the market is about to hit the skids some more and a more down could be on the way in the next several weeks.

Even if we do see more profit taking and selling off, I would not go falling in love with the downside.

Yes the market does have some downside work to do, infact there could be some more violent selling off, but again, there are too many people screaming for a crash to 666 on the S&P. Now I am not saying that wont happen, but that is a low probability is all. I have posted many charts here in the blog that confirm we are still in a bull market. And we have to remember that bull markets do not go up in a straight line, that is for sure.

Looks like with the action we have seen in the last two weeks, we are going to have a very volatile summer on our hands. For some this will be great, and I love trading in this environment, but for others, they will get chopped up and lose their accounts. So you have been warned.

spx weekly chart

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Gold Bears Watch Out Dont Take On Central Banks

Gold Bears, Watch Out Don't Take On Central Banks

Gold prices are down 12 percent from a peak in October to about $1,583 an ounce. The fall has coincided with a surge in global stock markets amid growing confidence that the world economy has turned a corner and will remain underpinned by the ultra-easy monetary policy of major central banks.


As bullion falls out of favor in this "risk-on" trading environment, one expert says the market bears should think carefully about betting against the precious metal at a time when central bank demand for gold remains strong. It seems they are still pumping money into gold when it seems gold prices are so depressed.


Gold Bears might get a warning, but let us look at the chart to see what gold is saying.

The weekly chart in gold has the bears very very excited. And more downside could be on the way. But looking at the weekly chart in gold, things seem to be more on the oversold side right now.

The RSI, MACD and Stochcastics are all saying the bears have had a field day, in gold. We are not short gold, however I think the central bank is going to pull out more punches soon, and buy up more gold, and does so when prices are so suppressed. If this does indeed happen and the central banks do move in a big way, you do not need a stockbroker, analysts or so called guru to tell you. It will all come out in the chart first.

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USD weekly chart - The usd weekly chart is telling

usd weekly chart

The usd weekly chart is very telling. I have been watching it like a hawk. As the inverse trade against the market, the usd weekly chart looks to be on a buy signal.

The usd weekly chart  stochastics has turned up and also MACD so this shifting does seems significant.

usd weekly chart

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