SP-500 UPDATE

SP-500

• 1st Resistance Will Come In @ 1224 Range
• Bulls Are Being Fueled By Talks of QE3
• If It Break High Above 1224
• New Target = 1330
• Will Come Down To Economic Data And Europe
• Empire Manufacturing Was Very Weak Today At A NEGATIVE 7.70 
• Showing More Signs of Weakness
• Home Sales Come Out 8/18
• Market Is Looking For 4.87 Million Homes Sold
• Will Be Weaker Then The Market Thinks
• Europe Meeting Tomorrow
• Any Negative News Will Send The Markets Much Lower

GLD Weekly

GLD - Weekly

• GLD Hitting The Top of The Bull Fork
• Could See A Huge Move Higher - Like We Did In The SLV Before It Topped
• Look For Gold To Hit 1900 to 2000
• QE3 Could Change All That Depending On How Big It Is