Enlarge any chart by clicking on it.

Unless otherwise specified, ALWAYS use the 15min chart to enter my recommended plays because
CONFIRMATION is a MUST.
In other words, you need to see a 15min candlestick that CLOSES beyond
the entry point, then enter when it moves 10cents after the high/low of that candlestick.

Tuesday, February 7, 2012

SLV(silver), GLD(gold), FXE (euro) & SPX

Look for the push up to continue.
Likely to see a strong push higher tomorrow if SPX breaks out above the Broadening Top Pattern i.e a move above 1350 as seen on my 30MIN charts. BUT if pattern morphs into a Diamond Pattern, then we might have a few days of sideways boring price action that gets lousier as the days go by till a breakout occurs.
I believe the Broadening Top Pattern is and will be in play i.e a strong push higher from here based on the previous Diamond Pattern on the intraday chart from a few days ago that is still in play and also the bull formation on silver, gold and euro.

SLV (Silver)

GLD (Gold)

FXE (Euro)

SPX DAILY LINE

SPX DAILY

SPX-30MIN LONGER TIMEFRAME

SPX-30MIN SHORTER TIMEFRAME