Long
Stop $0.79
For the Web's best interactive charts, please visit http://www.Prophet.Net
Blog description
- Rodney
- A place for friends to gather and view stock market charts, discuss technical analysis and market outlook. What is your Principal Asset? How can it be developed? Each and all should do their own due dilligence and homework before investing. And by no means should you use anything I say or show here as a sole basis to buy or sell securities as everything is for educational experience only.
Wednesday, February 10, 2010
$SPX - long term Fib Fan
Monthly chart with a Fibonacci fan line shows the downtrend and the importance of the current level. Take into consideration the monthly average and it's pretty easy to explain the markets oscilations of late and the increased volatility.
I see a short trade setup with a stop of 1105 or the monthly high.
A long setup using a small position size with the stop being just below the 200 SMA 1034. This is a bounce play and profits should be taken quickly.
For the Web's best interactive charts, please visit http://www.Prophet.Net
Tuesday, February 9, 2010
EUR/USD
All the talk on the Euro is the only thing proping the dollar up. It is not that America is stronger, but everyone else is getting weaker especially Europe. Somehow I find it comical that the US dollar will be viewed as a "safe" vehicle and I do not expect this sentiment to last. Look for precious metals to bounce and use your due dilligence on finding entry points on GLD and SLV on ascending trendlines.
For the Web's best interactive charts, please visit http://www.Prophet.Net
Saturday, February 6, 2010
GLD
Shorting GLD above 105 with stop just over bottom green trendline or 106.35
For the Web's best interactive charts, please visit http://www.Prophet.Net
Friday, February 5, 2010
EUR/USD
EURO losing 38.2% Fib means the dollar to $83
For the Web's best interactive charts, please visit http://www.Prophet.Net
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