Sunday, February 17, 2013

Markets Are Going To Reverse This Week: A Technical Review

Markets Are Going To Reverse This Week: A Technical Review


Here are some charts to consider,  Over the weekend I’ve noticed alot of talk about how the Dow and S&P are up much more than Gold and Silver since the year has started.  So when ever I start hearing this kind of bragging you know the “MoneyJunkies” are about to bait all the people they can and sucker them into something  that has all ready ran its course.
The S&P and Dow are very over extended, and there are no fundamentals to explain how such a rally even existed in the first place.  The ”MoneyJunkies”  have been hyping these 2 indexes and are now ready to unload their profits.  In order to unload their positions they need to sell to somebody hence the hype going around.  Just look at these chartsThe Nasdaq did not have a rally like the other markets and was pretty flat, considering the fall of Apple and Google I can understand why.   But the Dow and S&P? I do not see how they had such a rally.  The same goes for Silver and Gold, with such great fundamentals going out of the gates this year how the heck can you explain the sudden drop in prices last week?   Again its a reversal week for the major indexes and Silver and Gold are to see lots of support here and possibly may be the last great buying  opportunity.

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