The Moment of Truth Video for Gold, Silver, Oil & SP500
May 5th 2010
It has been an exciting couple weeks with the stock market slowly forming its top before breaking down this week. I have been warning everyone keep tightening your protective stops and to keep new positions small because once prices start to sell off they will most likely drop like a rock.
This week we have seen all the markets around the world breakdown and this indicates that there could be some large waves of selling in the near future. Traders and investors are very bullish on both stocks and commodities and financial market is designed to hurt the largest group of investors possible. So with over 53% of trader’s bullish and only 18% bearish (same readings as the Jan high) it makes for a perfect blood bath in the market catching the majority off guard left holding the shares.
Here is a chart of the SP500 ETF – SPY Daily Chart
You can see from simple analysis these repeated patterns in price and volume.
Video – Gold, Silver, Oil and SP500 Technical Analysis
I have put together a short video covering charts of gold, silver, oil and the broad market pointing out what we must watch for in the coming days or weeks.
Visit this link if you cannot see a video here: http://www.thegoldandoilguy.com/silver-oil-sp500-gold-newsletter-video/
Mid-Week Trading Conclusion:
The broad market is now in the middle of a trend reversal and during times like these we can see wild price swings in stocks and commodities making trading much more difficult. But a few more sessions and we should see things smooth out and provide some great shorting opportunities before the market starts to head back up to make new 2010 highs.
If you would like to receive Gold Newsletter of ETF Trading Signals please visit my website at: www.TheGoldAndOilGuy.com
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