Replies to post #8016 on 123Tom's TA study group

[123tom]

The S+P and Gold and miners



I'm getting the feeling the market controllers want us to think that gold and the miners will rally up when the indexes fall down...

If thats the case, it might suggest that when the S+P holds a strong support line ,like 2750 or 2700, for example, IF it holds and bottoms there, then its time to take profit on the rallying miners. IF there is such a correlation. I notice spot silver didnt move. but the silver miners jumped. gold and gold miners jumped.

I think its still very contrived and manipulated. watch out for the rally resistance peaks. when S+P is ready to hold support. could be here at 2800, but I'm thinking one or two steps lower will be the bottom. maybe end of May.

[Citrati]

Except for the couple of spikes the day was mostly buying.
Also, the buys were at the ask and only the couple of big sells hit the bid side.
3 sells accounted for approx 240,000 shares.
Conclusion: at least for today there was no steady price erosion.