Breaking Away…

0304gld

http://stockcharts.com/h-sc/ui?s=GLD&p=D&yr=0&mn=9&dy=0&id=p60546422961&a=255869372

Gold has convincingly broken out of its triangle.  We remain skeptics, but you can’t fight the chart staring you in the face and the markets haven’t got the zika virus out of their system  so look for a profitable but not long lasting trade.

0304spx

http://stockcharts.com/h-sc/ui?s=%24SPX&p=D&yr=0&mn=6&dy=0&id=p38955316076&a=266398464

0304spxpnf

http://stockcharts.com/freecharts/pnf.php?c=%24SPX,PWTADANRRO[PA][D][F1!3!!!2!20]

The SPX chart is now very bullish.  The PnF target is 2189.  More than a toe is probably warranted  in this situation.  Now we are either in a killler bear market rally or exploding into a new powerful uptrend.

 

Leave a Reply