Gold - Stochastics Give A Bearish Sell Signal

Gold appears to be heading lower which has caused the stochastics to cross and give a bearish sell signal. You'll notice the majority of overbought stochastic sell signals for the gold market have been pretty accurate since March. Looks like a retest of last month's low is just days away.

Where are Investors Putting Their Money?

The one good thing about the trading is that there is always a bull market somewhere and right now that bull market is in Bonds. In the above chart you can see how money has been moving into bonds and out of stocks since last may. Below is a 1 year chart of the 30 year bond.

Stock Market - Continues To Be A Guessing Game

Last week stocks made new lows for the year but we are now seeing some of those fresh shorts get squeezed as the indices head for a test of their 50 day moving average. I continue to remain on the sidelines because in my opinion the market right now is a guessing game where the odds are against us so why trade?

Stock Market Hits New Lows For The Year

Stocks were down again today with the Dow Jones Industrials falling 444 points or 5.56%. As you can see in the above chart the Dow broke to a new low for the year along with the NASDAQ and S&P (not shown). The S&P500 got hit the hardest today down 6.71%. I still remain on the sidelines in terms of trading and I do not have a position in any of the major indices at the moment.

Gold - The Trading Range Continues

The bear flag I pointed out last week in Gold turned out to be a false setup. If you look at the above chart of GLD you'll notice the trading range that has taken place over the past few weeks. There's also the potential for a double bottom but that pattern has NOT been confirmed. I'll remain on the sidelines until something happens.

Stock Market - Key Reversal Day

I think today's price action proves to me at least why I am so glad not to have a position in this market. The stock market is chopping around shaking out both longs and shorts. Just when it looked like the market was breaking low things suddenly and violently turned around. Today the NASDAQ broke to new lows for the year around noon time but about two hours later the NASDAQ staged a powerful

Forex - Money Moves Into The Yen

The rally in the Japanese Yen that I was looking for 2 weeks ago seems to be underway however I did not buy this currency. There was one day about 6 days ago where the Yen dipped below the 20 day moving average which made me think twice about buying this currency. Looks like I messed this trade up.

Gold Breaks Down

Last weekend I posted about the bear flag in Gold that was setting up and as you can see in the above chart Gold is now selling off. I'll post my downside target for this metal either tomorrow or the day after.

Stocks Head Lower

The stock market was down again today negating the potential 1-2-3 formation that I posted about the other day. I continue to have no position in this market and I will continue to wait patiently for some kind of setup to present itself where the risk/reward is favorable.

U.S. Dollar On The Move

The U.S. Dollar has broken out of a picture perfect symmetrical triangle. If you recall I first wrote about this setup last week and you can see the original post by clicking here. I think we'll see gold and the foreign currencies come under pressure if the move up in the dollar continues. Looks like the bear flag in the Euro was confirmed today.