Friday, June 19, 2009

Sloppy Rudder & Volatile Market

Lots of Energy in Both Directions - Options Expiration Day
30 Day, 2 Hour - June 18 - Mixed signals at this juncture. Potential disappointed Bulls in Gold Spot. If market falls these people will have to cover by selling. On the other hand there are lots of Bears counting on more correction to the downside. Both cannot be Right.
3 Month, Daily - June 18 - Long Term Bull channel is being challenged with a little weakness and potential loss of support. The Bulls have had a way of roaring back again and again in the face of threats by the Bears.