How does that compare to expectation or consensus estimates?

Immediately pulls back to retest former resistance downtrend line. Note that Advance/Decline stats shows volume about 50-50 but with many more new lows than new highs. Seems like this bounce lacks conviction.

http://finance.yahoo.com/advances

OBV on 60-min charts for AUY, EGO, GDX, and GG have been falling despite their rise in price supports that there is selling pressure in the miners.

...and look at a 5-minute chart of the close today. You'll see a few hollow candles with very heavy volume. Just a precursor to an oversold bounce or has an intermediate bottom been put in? 

http://www.cnbc.com/id/15839178/

http://stockcharts.com/h-sc/ui?s=SDS&p=60&b=5&g=0&id=p55487348010&a=165916617

RSI 14 bottoming, at lower trendline of a descending triangle, positive divergence on MACD histogram (bit still below 0), volume after the gap down last week has been drying up as GG continues falling. But, from OBV, it looks like GG is in serious distribution.

http://stockcharts.com/h-sc/ui?s=GG&p=D&b=5&g=0&id=p49737559689&a=160016210

Thoughts?

Two questions about this "signal"

1. Does it apply to 60-min charts or just daily? Tested on other timeframes?

2. The GDX chart from the Monday newsletter stated when both are oversold at the same time the chart is due for a bounce. Does this hold in the opposite direction too - i.e. when both are overbought at the same time, is a pullback due?

Thanks.

While SPY is breaking up out of a triangle on the 60-min chart, it is on decreasing volume and OBV is falling.

http://stockcharts.com/h-sc/ui?s=SPY&p=60&b=5&g=0&id=p33218173304&a=241536391

...do we get a back test of the broken ascending triangle before it heads lower?

Not sure this is related but Shandong Gold, the Chinese firm that put in the $9.30 bid last fall that was rejected. Shandong was halted yesterday but I haven't been able to find out why. 

Longer stochastics poised for simultaneous cross of 20 line

http://stockcharts.com/h-sc/ui?s=GDXJ&p=60&b=5&g=0&id=p00229947949&a=235856912

Note the repeated bounces off $8.80 level.

http://stockcharts.com/h-sc/ui?s=EXK&p=D&b=5&g=0&id=p20617187003&a=169896417

Thanks TomW1. I see what you are looking at but doesn't that only measure up a point or two? I'm considering more of a swing trade rather than a day trade.

Looks like the daily and 60-min are in position for low risk short - assuming anything is low risk a few hours before the Greek mess makes news later today...

Daily:  http://stockcharts.com/h-sc/ui?s=$RUT&p=D&b=5&g=0&id=p95358318985&a=203765714

60-min:  http://stockcharts.com/h-sc/ui?s=$RUT&p=60&b=5&g=0&id=p51595155447&a=207678600

Took a bit of SDS here. We'll see how the last hour goes before I decide whether or not to hold over the long weekend.

I know charts for leveraged inverse ETFs can be misleading. But, the SKF daily chart looks like a double bottom. I don't think what sort of looks like a H&S on the chart really is. It seems to violate too many criteria.

Thoughts?

http://stockcharts.com/h-sc/ui?s=SKF&p=D&yr=0&mn=6&dy=0&id=p07920392299&a=163341201

I recently had our fee-only advisor ask the same question of Schwab, the custodian of our funds. Their answer was that they can only rehypothicate assets in client margin accounts that have a margin balance, and then only up to the limit of the margined position. FINRA who regulates brokers (unlike CFTC who regulated MF Global) requires Schwab to allocate 102% of the rehypothicated balance as cash to the client account from whose assets were hypothicated. Schwab currently sports about a 13.4 leverage ratio so they aren't too overleveraged. 

The question I have asked is whether Schwab can transfer our account to an affiliate in  a jurisdiction with more lax regulations - as MF Global apparently did when they transferred client accounts to a British affiliate. To me, that is as big a danger as whether or not they can rehypothicate assets.

Ragwing, In addition to DUST, I also have used ZSL to short silver miners and SPPIX to short the DJ Precious Metals Index. This fund only trades end of day but can give you inverse, non-leveraged exposure to major gold producers too.

http://www.profunds.com/funds/short_precious_metals.html

Good trading.