After a few disappointing results like housing starts and Philly industrial production, DJI tries to move up. Friday we had quadruple witching which is traditionally the most volatile day where fund managers are doing window dressing of their portfolio. Ended up again for Friday and gold was soaring. Now looking at the chart, I'm seeing 3 reversal candles + hitting 50D moving average. Looks like we could go down for a ride or if we are lucky, a consolidation.
Sunday, June 20, 2010
Hits another resistance
After a few disappointing results like housing starts and Philly industrial production, DJI tries to move up. Friday we had quadruple witching which is traditionally the most volatile day where fund managers are doing window dressing of their portfolio. Ended up again for Friday and gold was soaring. Now looking at the chart, I'm seeing 3 reversal candles + hitting 50D moving average. Looks like we could go down for a ride or if we are lucky, a consolidation.
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