21 Jan – 22 Feb
$500 Contest
Fxprizes
Long Term=Bullish - major yearly resistance 1792-1804 needs to be exceeded on a monthly bass and close above 1840 to resume long term up bull trend.
Medium Term=Bullish - It takes a weekly close below 1625 to turn the trend Neutral. Resistance 1755-1765(Oct/Nov 2012 Resistance)
Intermediate Term= Bullish---it takes a close below 1648 to go bearish. Thursday’s drop again at the jobs claims report was discouraging and we're just a hair away from being neutral.
Short Term= Bearish --- The danger of peaking due to a choppy and overlapping trend came home to roost on Thursday. Options expiration on Monday is the most likely culprit. A close above 1685 would return to bullish. The pattern looks choppy and overlapping and that is a concern.
Support and Resistance
Initial Resistance 1672-1682 and 2nd tier 1711-1721
Initial Support 1653-1664 and 2nd tier 1663-1667
What next?
For now, the short term trend has turned down and the intermediate term trend is on the verge of being neutralized. We certainly can get a bounce on Friday, but with options expiration, Feb Futures contract rollover and the Feds meeting next week, the upside looks limited to 1675-1680 for now.
BOTTOM LINE
all is not right with what is going on. Watch the stock market also, as it’s very possible that we saw the high in the S&P and a pullback is beginning. For now, it’s just a pullback, but things are going to have to be watched carefully. How can Apple drop so much? We have major players with their funds in it (David Einhorn has over 1 million shares). You can imagine how difficult it is to reduce positions of that size when everyone wants the door.
In summary, its best to remain cautious at the moment.
INVATA SA TRANZACTIONEZI GRATIS PIPSI IN FOREX
21 Jan – 22 Feb
$500 Contest
Fxprizes
INVATA SA TRANZACTIONEZI GRATIS PIPSI IN FOREX
$500 Contest
Fxprizes
Long Term=Bullish - major yearly resistance 1792-1804 needs to be exceeded on a monthly bass and close above 1840 to resume long term up bull trend.
Medium Term=Bullish - It takes a weekly close below 1625 to turn the trend Neutral. Resistance 1755-1765(Oct/Nov 2012 Resistance)
Intermediate Term= Bullish---it takes a close below 1648 to go bearish. Thursday’s drop again at the jobs claims report was discouraging and we're just a hair away from being neutral.
Short Term= Bearish --- The danger of peaking due to a choppy and overlapping trend came home to roost on Thursday. Options expiration on Monday is the most likely culprit. A close above 1685 would return to bullish. The pattern looks choppy and overlapping and that is a concern.
Medium Term=Bullish - It takes a weekly close below 1625 to turn the trend Neutral. Resistance 1755-1765(Oct/Nov 2012 Resistance)
Intermediate Term= Bullish---it takes a close below 1648 to go bearish. Thursday’s drop again at the jobs claims report was discouraging and we're just a hair away from being neutral.
Short Term= Bearish --- The danger of peaking due to a choppy and overlapping trend came home to roost on Thursday. Options expiration on Monday is the most likely culprit. A close above 1685 would return to bullish. The pattern looks choppy and overlapping and that is a concern.
Support and Resistance
Initial Resistance 1672-1682 and 2nd tier 1711-1721
Initial Support 1653-1664 and 2nd tier 1663-1667
What next?
For now, the short term trend has turned down and the intermediate term trend is on the verge of being neutralized. We certainly can get a bounce on Friday, but with options expiration, Feb Futures contract rollover and the Feds meeting next week, the upside looks limited to 1675-1680 for now.
BOTTOM LINE
all is not right with what is going on. Watch the stock market also, as it’s very possible that we saw the high in the S&P and a pullback is beginning. For now, it’s just a pullback, but things are going to have to be watched carefully. How can Apple drop so much? We have major players with their funds in it (David Einhorn has over 1 million shares). You can imagine how difficult it is to reduce positions of that size when everyone wants the door.
In summary, its best to remain cautious at the moment.
YOU SHOULD NOT TAKE ANY MATERIAL posted on this BLOG AS RECOMMENDATIONS
TO BUY OR SELL GOLD OR ANY OTHER INVESTMENT VEHICLE LISTED.
TO BUY OR SELL GOLD OR ANY OTHER INVESTMENT VEHICLE LISTED.
Do your own due diligence.
No one knows tomorrow's price or circumstance.
I intend to portray my thoughts and ideas on the subject which may s be used as a tool for the reader.
I do not accept responsibility for being incorrect in my speculations on market trend.
I intend to portray my thoughts and ideas on the subject which may s be used as a tool for the reader.
I do not accept responsibility for being incorrect in my speculations on market trend.
King Regards
