Thursday, May 26, 2011

Update on the over all market

SP-500 - Weekly
  • SP-500 Still Holding Support In Bull Fork
  • In a Neutral Zone At The Moment But Should Bounce
  • SP-500 Could Still Have One Last Pop
  • Close Below 1310 Would Start To Be Bearish
GLD - Weekly
  • GLD Still In Bull Fork
  • Having Hard Time Breaking Mid-line @ $149.00
  • Close Below $139.00 Would Be Bearish


    QE3?

    • Been A Good Amount Of Poor Economic News
    • Economy Is Slowing Down, Keep In Mind That Is With QE2 Still Taking Place
    • QE3 Would Not Help, Just Kicking The Can Down The Road
    • What To Watch Is Greece, Aka "Lehman Brothers 2.0" And China!