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![]() Gold on the Move By Chris Vermeulen July 28, 2010 Most traders I have been talking with are feeling the same thing. Something big is brewing for the equities market but most do not want to get heavily involved until there is a clear direction. The broad market has been consolidating for almost three months and it's important to remember that the larger the consolidation the bigger the move. Also the biggest and best moves come from failed patterns. So is the big head-and-shoulders pattern on the SP500 which everyone is yelling about ("the sky is falling") really going to happen or is this the BIG fake out? Only time will tell, either way no matter which way it goes I will be sure to catch some of it. GLD - Gold Bullion ETF Gold has been sliding lower for several weeks now and it looks to be showing selling exhaustion. The 5th wave down with the volume spike indicates panic selling as investors cannot hold onto those positions any longer and exit. This is a bullish sign for gold. Also we are seeing gold fall deep into a support level along with the 200-day moving average. ![]() Conclusion: The equities market is in limbo until a clear trend is established. If the financial sector breaks out to the upside then we should see a sizable rally. Gold is almost looking ready for a bounce but I am waiting for more confirmation before jumping on the wagon. If you would like to receive my trading analysis and ETF alerts try my subscription service which has a 30-day money back guarantee: http://www.thegoldandoilguy.com/specialoffer/signup.html. TheGoldAndOilGuy.com is owned and
run by me (Chris Vermeulen), an individual gold trading specialist.
After sharing my gold analysis with friends, traders and financial
advisors, I decided to make TheGoldAndOilGuy.com my full time job in
2003. This service was designed from the ground up to help individual
traders who want to focus on consistent, accurate and profitable trades.
Over the past ten years my strategy has been refined to one golden trading
vehicle which has an almost 100% accuracy. The GLD (DGP and DZZ) gold
exchange traded funds are now the most accurate trading vehicle I have
seen, so it's my vehicle of choice. Members of TheGoldAndOilGuy.com not
only get to trade my signals, but see my live trading charts and ask me
all the questions they wish. My goal is for all of us to make money
and have fun in life.Home | Products and Prices | Buying | Selling | FAQ | Articles | Forms | Top Website © Copyright J&M Coin & Jewellery Ltd. 2010. All rights reserved. Pricing index programming and site hosting by Sandrix Technologies Ltd. (AXD) | |||||||||||||||||||