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But wasn’t that the same when gold was at 17-1800 or whenever it was ? I can’t see the world as we know it ever allowing it go that Pete tong, they would do the QE equivalent or make up some new “tool” to prevent such a thing, besides it would suddenly mean Russia was quids in again, the west can’t allow that having covertly all conspired to drive oil down to kick them in the nuts (that my conspiracy theory by the way) lol.
but all that said I do love RSI and it seems to be in O/B territory….but not turned down yet (of course depends on your time scales….
So I’ve had a week off suffering with a bout of man flu and it is rather interesting that with all the volatility the the ES is where it is, without any Gaps, I find that really interesting, for some weird reason.
The Dax is also one interesting beast having taken out its 10k and in true fashion the longer a resistance holds when it breaks it will fly… that is a very tempting short for me, but whilst its on heat i’ll just observe it.
It all seems rather bullish, and with vix only down at around the 16-18 levels still plently of room for it to find its value of 12, which I use as an indicator
I still don’t understand gold and every time I try to it reminds me it is not to be misunderstood lol.
I’ve juts arrived overseas for a few beers and had a look at the charts, what is this silly yellow metal doing ! Market up, gold up ?.?. Come on drop 100USD being propped up IMHO 😉 just for you dan …. Off for beer, that wedding gold season – they must be wearing some massive earings !
Still have a gold position, its in the momey just not as much as it was., figure this will be a spike on historic charts….. He said……
How many banks took a hit when the Swiss Franc rocketed.
probably none. The cartel probably all got a nod and a wink and took a position to profit from the pending announcement, followed swiftly by….. A surprise public announcement !
Wonder if someone might be able to help here. Natural Gas, done very well in the last 2 days, UK leveraged fund doing nice 3NGL. There is also a US gund called GASL which is a leveraged ETF in GAS etc. in the last 2 days natural gas has moved up, the 3NGL leveraged fund has moved up by 3x the natural gas change as one would expect, however the GASL ETF has not moved, it seems to be trading at about a 20% discount, any idea why, I hold both and cant figure why it is not moving unless it is crowded with sellers ?
figures it, this USÂ etf is more barron than my alcohol cupboard ! next to no volume.
Wonder if someone might be able to help here. Natural Gas, done very well in the last 2 days, UK leveraged fund doing nice 3NGL. There is also a US gund called GASL which is a leveraged ETF in GAS etc.
in the last 2 days natural gas has moved up, the 3NGL leveraged fund has moved up by 3x the natural gas change as one would expect, however the GASL ETF has not moved, it seems to be trading at about a 20% discount, any idea why, I hold both and cant figure why it is not moving unless it is crowded with sellers ?
I suppose one could make a case for an inverse head and shoulders if looking for bullish patterns, but would be looking to see if the blue line fails before it being a valid pattern….
I suppose the most bullish pattern at the moment is the trend…
for now as of yesterday I am short on gold (in pension) so I’d like to see it fail…just for a few points 😉
Re gold, Having looked at it over varying time scales it doesn’t seem overly bullish to me over multiple time frames, but that said I am not an avid follower of gold as you are 🙂
It is imho a big deal as is was a potential pseudo NO for any euro ECB QE, but that said the term that says it cant influence any markets…erm how ecaxtly is that even possible…. I haven’t read the fine print on it yet, I doubt any court would be allowed to interfere with the collapse of something like the Euro/Eurozone, nothing to see here, move along sweep stuff under the carpet lol.
Gold is disjointed in terms of reacting opposite mirroring equities i.e . equity action down and gold down ? but it has reached a resistance level yesterday .
Oil – Will be interesting to see if the RTH session shows the same slide as the overnight session.
S&P – still on the side-lines as I cant decide which way out this is going at the moment, very close to recent support line, busted a bigger one, but also near recent lows….. if in doubt… there is no doubt. I didn’t expect it to trade up at yesterdays levels and sell them all off so violently just a spectator sport for me at the moment, I wouldn’t be surprised to see some form of sell off and then it whip right back up, in a capitulation type move. I’ll just keep watching it for now 🙂 the move yesterday afternoon slung the vix right up, on the whole having seen VIX not loiter around these areas in the long term I am actually biased to more upside in the longer term but where the market goes (and  vix goes)  between now and it getting back to 12 will be interesting.
