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Sunday, February 20, 2011

Doc Barter Market Musings Feb 20



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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