Thursday, November 12, 2009

Profit Opportunities in Reversal Recognition

Success is Measured in Profit. If there is no interest in Profit, you are just playing a game.
US Dollar has been under attack and has lost considerable value in the last 6 months. The decline in the Dollar has enhanced the value of commodities such as Gold, Copper, and Oil. Today the Dollar rallied and the market responded with a sell off. The two have run counter to one another.
Goldman Sachs (GS) is a Bell Weather equity and tends to run with and often lead the general market. GS has been in a bullish move as has the market. Today there was a pull back in both.
1 Year, Weekly - Strong Bull move for 6 months. (Long Term Perspective)
10 Day, 30 minute - Nov. 12 - Roll Over in the market with loss of support at lower level of trend channel. Suggests possible move lower in the days ahead.