Nasdaq Composite Short Term
The Nasdaq 100 has acted weak on Friday and sold off intraday towards 2382.50-2384. The NYSE Tick and Nasdaq 60 minute chart show some weakness ahead. That can be solved with a turn down to one week ema.
Summation Index, Up-Down Volume and Advance – Decline looks positive. If the short term up trend is intact, the Nasdaq would not fall below one week ema. The charts suggest a bit of weakness but overall trend is still up.
(charts courtesy of stockcharts.com)
SUMMARY:
Gold -> slightly bullish
Silver -> bullish as long as Silver is trading above 30 USD
HUI -> bullish
VIX -> forming a base at 16
Bonds -> recovering slightly
USO - > creating slowly a buy signal
NGas -> Neutral
USD -> bounced to 50dma and dropped a bit. - Neutral
I will write later an article about Silver and the monthly chart as it does show a disturbing pattern.
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