Advertise | Bookmark | Contact Us | E-Mail List |  | Update Page | UraniumSeek.com 

Commentary : Gold Review : Markets : News Wire : Quotes : Silver : Stocks - Main Page 

 GoldSeek.com >> News >> Story  Disclaimer 
 
Latest Headlines

Gold Seeker Closing Report: Gold and Silver Gain with Stocks and Dollar
By: Chris Mullen, Gold Seeker Report

Jack Chan's Question: Is This an Exhaustion Gap or a Breakaway Gap?
By: Jack Chan

Ira Epstein's Metals Video 8 14 2018
By: Ira Epstein

Gold: Tactics For The Price Sale
By: Stewart Thomson

A Depressed Economy And A Silver Boom
By: Hubert Moolman

Gold Stocks are not too Oversold yet
By: Jordan Roy-Byrne CMT, MFTA

JULY - SII UPDATE; Mid-Year 2018
By: Gordon T Long

Bullish Data For COMEX Gold
By: Craig Hemke

Weekend Report…Impulse Moves in the Currencies
By: Rambus

Has Inflation Peaked?
By: Arkadiusz Sieron

 
Search

GoldSeek Web

 
SPX Chart Is Flashing RED!

By: Rick Ackerman, Rick's Picks

 -- Published: Tuesday, 13 December 2016 | Print  | Disqus 

http://www.rickackerman.com/wp-content/uploads/2016/12/March-EMini-SP-is-flashing.jpg

Switching to the March E-Mini S&P makes clear that it is much closer to a potential major top than the December contract. The latter still has about 30 points of running room before it hits a 2299.00 target, and the stop-loss I’ve advised for the single contract we still hold (as a tracking position, with a paper gain so far of about $8000) still obtains. However, I will treat the March contract as a separate case, since its chart, which is flashing red, demands no less.  Indeed, the feeble distribution rally to 2264.75 engineered by DaBoyz Sunday night on vaporous volume brought the March contract close enough to the 2267.50 target shown for us to infer that the sensational bull move of 2016 may have climaxed. In any case, I’d be very surprised if the futures were to blow past this number, a major Hidden Pivot resistance. That means I’ll be intently focused on the corrective move from Sunday’s top, since it has the potential to snowball into something BIG. Short-term traders are advised to shift to a bearish bias, given the fact that a major rally target ten months in gestation has come within 2.75 points of being fulfilled. Since the foregoing is not chiseled in stone, we should allow for an alternative scenario, as follows: If the March futures were to push decisively past 2267.50 in the next 3-4 days, that would signal more upside to the 2308.25 ‘secondary’ Hidden Pivot of an ABC pattern projecting as high as 2403.25 (Daily chart, A=1796.20 on 2/11/16): B=2176.50 on 8/23/16; and C=2023.00). More immediately, however, traders should focus on the 15-minute chart, which turned bearishly impulsive Monday with a 2246.75 print at 12:15 p.m. (Note: The hourly chart is still positive and would need a print at 2227.50 to turn bearish.) If you don’t subscribe, you can access the chat room and all of Rick's trading 'touts' instantly by clicking here for a no-risk, two-week trial subscription.


| Digg This Article
 -- Published: Tuesday, 13 December 2016 | E-Mail  | Print  | Source: GoldSeek.com

comments powered by Disqus



 



Increase Text SizeDecrease Text SizeE-mail Link of Current PagePrinter Friendly PageReturn to GoldSeek.com

 news.goldseek.com >> Story

E-mail Page  | Print  | Disclaimer 


© 1995 - 2018



GoldSeek.com Supports Kiva.org

© GoldSeek.com, Gold Seek LLC

The content on this site is protected by U.S. and international copyright laws and is the property of GoldSeek.com and/or the providers of the content under license. By "content" we mean any information, mode of expression, or other materials and services found on GoldSeek.com. This includes editorials, news, our writings, graphics, and any and all other features found on the site. Please contact us for any further information.

Live GoldSeek Visitor Map | Disclaimer

The views contained here may not represent the views of GoldSeek.com, its affiliates or advertisers. GoldSeek.com makes no representation, warranty or guarantee as to the accuracy or completeness of the information (including news, editorials, prices, statistics, analyses and the like) provided through its service. Any copying, reproduction and/or redistribution of any of the documents, data, content or materials contained on or within this website, without the express written consent of GoldSeek.com, is strictly prohibited. In no event shall GoldSeek.com or its affiliates be liable to any person for any decision made or action taken in reliance upon the information provided herein.