Glimmers of hope? Abandon hope. Embrace analysis…

http://stockcharts.com/h-sc/ui?s=UNG&p=D&yr=1&mn=0&dy=0&id=p31544361560&a=270918293

Sometimes the Russell peeps up as a harbinger of spring — or maybe summer at this point.  At any rate there is a signal there.

The PnF chart is not optimistic, but PnF charts are about as sensitive as an elephant’s hide.  We think it’s worth the first unit of a five unit trade.

Among other lost causes UNG which has been taking gas for — oh, since the star ship Millenium– shows some interesting signs of accumulation.

http://stockcharts.com/h-sc/ui?s=UNG&p=D&yr=1&mn=0&dy=0&id=p31544361560&a=270918293

Someone is accumulating gas in a big way.  We look on this as a multi year play.  Gas has gassed so many people that the time for something different may be at hand.  You can make a more conservative trade out of it by waiting for the break of the horizontal line, or even more conservative by waiting for the break of the topmost downtrend line.  Great patience will be necessary in this trade.

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