Friday Afternoon Charting Fun: Gold

Friday Afternoon Charting Fun: Gold

A little perspective on the move in gold should go a long way.   The inverse head and shoulder pattern that developed from November to March hit it's ultimate target almost to the dime near $153 (on the GLD).     After the recent 6.5% correction the...
EUR/USD At Support Level

EUR/USD At Support Level

The dollar rallied further yesterday, bringing the EUR/USD back down to a multi-year trend line.  In early April the dollar pierced through a downward sloping trend line near 1.42 at the time and now is retesting these levels.  While this could provide some...
One Chart To Sum It All Up

One Chart To Sum It All Up

The thing to remember about today's trade is that A) the world is interconnected by the banks and derivatives and B) that many more institutions and individuals these days own multiple asset classes.   Regarding point A, this means that the mortgage default...