Pretty good symmetry on the AMZN chart, hitting extension of fib
on the downleg into the longterm trendline. Bounce to
the breakdown area of $340 likely. Lot of gaps to the
downside quickly filled the past few days. Entries on most
things were yesterday afternoon or the retest this morning.
SA had 10,000 $7 calls dropped on it, big surge up out
of wedge today.
After this wedge higher some leaders are less than 10 pct off
highs, but all look bear wedgish. GDX still
not quite to a 38 fib retrace. Indian election coming online
and could be very gold bullish with an anti-mob candidate, Modi, a
leading figure. The larger cap leaders look like they are not
failing, but I would expect this range to rinse.
AMZN hits 100 extn of recent down leg, tgt 340 to 350, SA 10,000 cal 7 calls
Posted by cmunny on 8th of Apr 2014 at 03:02 pm
Pretty good symmetry on the AMZN chart, hitting extension of fib on the downleg into the longterm trendline. Bounce to the breakdown area of $340 likely. Lot of gaps to the downside quickly filled the past few days. Entries on most things were yesterday afternoon or the retest this morning. SA had 10,000 $7 calls dropped on it, big surge up out of wedge today.
Goldgram Update - Leaders at resistance, bear wedges
Posted by cmunny on 8th of Apr 2014 at 04:57 pm
After this wedge higher some leaders are less than 10 pct off highs, but all look bear wedgish. GDX still not quite to a 38 fib retrace. Indian election coming online and could be very gold bullish with an anti-mob candidate, Modi, a leading figure. The larger cap leaders look like they are not failing, but I would expect this range to rinse.
Narenda Modi weighed in Silver and Gold
Posted by cmunny on 9th of Apr 2014 at 12:56 am
Potential new leader of 1 billion PM hungry up-and-comers. Does this look bearish for the eternal metal? http://www.citymirchi.com/cm-lv-91332-Modi-gets-grand-welcome-in-Mumbai-weighed-in-silver.html
Thanks for the charts cmunny
Posted by steve on 8th of Apr 2014 at 07:45 pm
Thanks for the charts cmunny