Replies to post #79362 on Simple's Green Room

[tickettoride]

been long market for now ( mostly high divd paying stocks )
I'm thinking we may see a change in the markets where dollar and the market will go up
the rest of the world is really hurting

the govt. and bankers are not going walk away from this market its a cash cow for them IMO

Git I too will miss xag trading and thinking about trading it even 1:1 need to see how it will trade We will see
But I'm thinking all should try xag in a game acct first
master it there then go live with fx acct on a pair
have a great weekend

[simplegreen]

GM git...will post a few weekly charts that seem to paint the same picture and should affirm to some degree our assessment of the USD soon to breakout a bit and S&P to break down for a season.First chart is SPX...it could see a minor bounce attempt but IMO they took it too deep friday after it tested the daiy SMA200...fridays candle needed to be a bullish candle as follow up but instead it was a bearish candle..a marubozu!..its only redeeming aspect was that candle tho bearish was an inside candle which could lend hope for a minor bounce monday before breaking below daily 200 and heading IMO to the weekly 200 around 1160...this chart is a weekly and notice the MA crossover alert arrows(purple)...the indicator alerts on SMA 10/20 crosses and we just had a downward 10/20 cross.If I'm correct there will be a fair amount of downside but not catastrophic.S&P has simply exhausted itself of buyers..IOW its hit top of a trend IMO and now needs correction...the SMA10 and 20 should now form what I call a bowtie like it did before breaking above SMA200...its at this point that it will actually be consolidating and go into a trading rather than trending market.The ultimate outcome cannot be predicted tho as to whether it will advance another leg up or fall hard to search for support..neither should occur tho til consolidation runs its course.Heres the first chart...next one will be on DXY

[simplegreen]

This next chart is weekly DXY and I think it agrees with SPX action as far as negative correlation goes..which is normal.This thing is in a bullish upturn..the SMA10 has now been crossed and 3 weeks of green candles has formed what I call a flying saucer with the 10..upper shadows of last 2 have penetrated the SMA20 and last weeks candle was an inside candle...these are all good signs for further advance and if this stuation holds it should advance slowly to at least the weekly SMA50 at about 78.12...if this occurs and equity market basically crashes then it could make it to even higher ground.The next chart after this one will be silver and I think it also agrees with what we are seeing and expecting.

[simplegreen]

Now for the chart on silver.. weekly chart IMO shows a tired trend like the SPX trend..it appears that the traders have decided that any move above 38 is excessive so selling or shorting has become the game on any rallies now.Its resisting nicely at SMA10 and is now resisting at SMA20...this is normal and it may well do as I expect on SPX for a season and find some crisscross action of SMA10/20 til it forms a bowtie then after that runs its course the natural direction would be a downtrend but again no one can predict til either new trend begins to the downside or old trend continues up.This fits in beautifully with what we see on SPX and DXY due to how the 3 correlate.BTW if silver breaks hard to downside the SMA50 would be target number one at about 29...target 2 about 23 and max downside target about 19...I really dont think we will see it ever breach weekly SMA200 at 18.75...chart

[simplegreen]

Next chart git..,weekly on gold...I used silver instead on my comparisons charts due to the highly speculative aspect and felt it would track better with the dollar and the equity markets.Gold is a different situation...physical gold is being snapped up across the globe and is moving IMO by true supply/demand rather than speculative trading.The chart on gold shows absolutely no weakness!A dip from where its at now would likely find support around 1450-1475 and launch ever higher with no top in sight.After this chart I may post one more as an afterthought...the Swiss Franc weekly..its also very important

[simplegreen]

Ok..last chart...Swiss Franc futures..weekly...this thing is a real pain in the tush and fly in everybodys ointment(LOL)...dang!...this sucker has had an amazing trend and like gold shows no weakness at all!Even tho its trended from 85 to 120 its still riding high above SMA10!!!!!...THAT is a helluva trend and its still going with no top in sight!Actually it is slightly stronger than gold at this point because even gold has minor profit taking...but not the swiss franc!