Saturday, December 3, 2011

3 Dec 2011

 I'm a little confused.  Normally the bottoming of my short term indicator is pretty coincident with the turning points in the McClellan Summation Index.  However, this time the Summation index has not yet turned despite quite a strong rally in both my short and medium term indicators.  I like when they all travel together.
 Medium term back at 50%
Short term overbought at around 80%.  This should not be news to you.
Silver is at an important resistance negative trendline.  Not the most important one (that one is less steep - ends around 35 in this picture).  Remember, I said silver could reasonably go to around 24 before gaining some traction.  We'll see.

Have a good weekend.

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