07 February 2012

Gold Daily and Silver Weekly Charts



The precious metal markets had a good day compliments of Herr Bernanke, who is obviously going to provide enough liquidity to prevent another Lehman event if he can.



SP 500 and NDX Futures Daily Charts - Benny Gooses the Beta with a Liquid Touch



This market is looking tired and the volume is drying up. But while the volume remains low it will likely keep drifting with an upward bias.

The SP Futures closed today at the July high which is remarkable.

First serious event will take it down hard. Strong support is at 1270 or so.

Don't feed the sharks. Wait for it.

Disney exceed earnings but missed the topline revenue. It is amazing what modern US accounting rules can allow. They took a hit in the theme park business. Looks like Mom and Pop are tightening their budgets.