Wednesday, September 7, 2011

S&P 500 & Gold

S&P 500
The S&P reversed on Tuesday and appears to be headed higher--possibly into the expected September 13th (+/- a day) Energy Window. If the September 13th window does indeed turn out to be a short term high, I suspect that the market could possible decline violently into the October 11-15th time frame.

Technical formations argue strongly for a double top being made with yesterday's reversal. A break of $1640 would suggest significantly lower prices and a turn in the intermediate trend to down.

No comments: