Saturday, January 12, 2013

12 Jan 2013 (Gold vs Nasdaq vs Silver vs USAGX vs Crude)

 Brent crude is showing some coiling.  It is hard to argue for a break down (considering the global monetary easing) through the lower support, but I guess with recessions, it could happen.  The problem is that either way we get a recession - if the price rises, recession, if it falls, it is likely because of demand falling in a recession.
Gold, silver and gold still all outpacing the Nasdaq's bubble from the 90s.  Gold actually looks still much like a very controlled rise in this view - not euphoric yet.
Overbought in medium term timeframes.
Percent of stocks over their 40 day is still high.
Quite high percentage of stocks over their 200 day moving average.  Looks like it will fail to reach the peaks from 2009 and 2010/2011, but the verdict is of course still out.
Overbought in short term time frames.

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