Sunday, February 17, 2013

17 Feb 2013

 You can see that GLD lost its support line (yellow) which led to some selling in the short term.  We will see if it holds the green support inverse head and shoulders line.
 Silver has sold down to long term support.  If this breaks, it could lead to quite a bit of selling in the short term.  What was the target I posted two years ago?  I don't really remember, but I think it was about 23.
The composite indicator is still near all time highs.  It seems like the trend is slowly changing for the two short and medium term indicators.

Sorry for the lack of posts recently.  Other things have been a lot more interesting than the stock market lately.

"It is incumbent on every generation to pay its own debts as it goes. A principle which if acted on would save one-half the wars of the world."
 Thomas Jefferson

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