Wednesday, January 5, 2011
The market is taking a rest after hitting the Andrews Pitchfork.
Smoothy and KumoBob Analysis are showing a probable reversal, but until we see that on a daily or even a 4hr chart I'm not convinced. The forks are not creating any downward forks yet.
The alligator has his prey, but the Kumo and Kijun-sen will offer support.
Cruiser and KumoBob Stochastic are showing weakness.
Volume suggests a peak but we still have not returned to previous levels.
Here's something to ponder. If you were a fund manager what would do? Cash? Probably not, interest rates can only go up, but the Fed will fight that.
Metals? maybe, but wow how high is too high?
Equities are still not at their all time high and if you consider silver and gold as the true value of the dollar, well it's gone no where. So where will the money go?
Posted by Robert Campbell at 19:08