Thursday, December 8, 2011

8 Dec 2011

 I really dislike "in-between" periods.  We are in one.  I define this as when you aren't oversold or overbought because it makes taking the opposite position much more difficult.  While the McSum index has declined for about a month and tried to bottom once, the TSV (middle) isn't exceptionally low or oversold.
 Not quite oversold in any of my short term time frames.  Very close in the shortest term.
 Medium term hold long turned down today at quite a divergence from last peak and price. 
 My original short term indicator shows we have about 15% to go negatively before being oversold using data from much of 2011.
 Here is another look at the McSum index.  This is longer term.  Notice that the TSV is still quite high and RSI is not yet oversold, but it is close.
 Silver is now completely sandwiched between my two trend lines and tested the bottom one today.  We should find out its direction soon.

Gold is also sandwiched between my trend lines.  Notice on both of these that neither TSV nor RSI is oversold.

As always, good luck, and thanks for your continued support.
"The more people who believe something, the more apt it is to be wrong. The person who's right often has to stand alone."
-- Soren Kierkegaard

No comments:

Post a Comment