Technicals for gold, oil and the US markets
Rick Ackerman kicks off today sharing his technical outlook for gold, oil and the US markets. For gold the move down has been healthy and could go further while remaining overall bullish. As for the US markets Rick continues to be wary of the downside thinking that there just is no good reason for the broad market to hang up there.
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vixy is below 10 good time to buy?
I dumped a very large position at 11.18 last week and went long quite heavy as the market bottomed and is headed to new highs.
Vixy is at all time lows and can go a lot lower. No use fighting the trend.
Rick is a true voice of reason. No outlandish clams just solid tech analysis.
Yep, Rick would be a good guy to pilot a space shuttle in some disaster movie – calm and objective.
I made money with you Rick. Solid analysis.
Rick definitely is very good.
Liked Rick’s analogy that the market being fed by the CB’s funny money, is like stuffing food down a goose’s throat to fatten it up.
Actually I’d like to learn from Rick (or whomever) where the funny money is coming from now – for the US market. QE is over (for now). So is this European or Japanese funny money buying up US equities? US QE is over, and then after that companies did stock buy backs because of ZIRP. But, where is the new money coming from that’s propping up the US market?
No fuel, no rise.
I myself think it’s rather that the money flow has stopped, and that it’s the comp systems that are moving money right to left, causing one stock to fall, and another to rise, like popcorn – but overall w/no effect. Plus I don’t think that HF’s are selling, so w/out new money to cause a rise, and w/out selling to cause a fall, we’re just watching HFT comp systems play the zero sum game over and over, w/out any trend.
I agree Bill. They are moving from sector to sector.
Agreed Bill in Tokyo, that was a good analogy that Rick used.
Rick sure has a good handle on this stuff, and he writes well also.
Yes sir. Rick is a sharp guy and I always enjoy listening to his perspectives, and consider him very accurate with the support and resistance targets he calculates.
Take a look at soybeans, maybe silver will continue its relationship and continue up with them!