Market Sense and Sentiment

[bbgold]

Morning Bernard,
Yes, looks as though the breakout is holding support. Interesting that we once again have an upper Bollinger band piercing so I will be watching to see if the HOD will hold resistance or we have another breakout. Might get a HOD type crossover on the 5 day chart or an MACD crossing but holding support above the 100/320SMA does indeed look Bullish, as Steve pointed out. Much as the Inclining 100/320SMA kept signaling the potential for the Uptrend to continue I will be watching to see if the Declining SMA will be signaling the potential for the Downtrend to continue. Watching 8500-50 for Support and 8600-25 as Resistance for a Breakout or Breakdown. Calls could be held using a breakdown of the SMAs as Support as a stop limit and Puts could be held using a breakout as a stop limit, JMHO though
Enjoy the Day Bernard and Everyone! :^)