Wednesday, January 2, 2008
Dow, SOX, GLD & SLV Charts
The stock market is sucking wind here and I do not like this SOX breakdown. Recall the weekly trend from 2004 that was part of the bullish case for semi's. Well, that was lost today and it needs to be immediately remedied. Also, the Dow and S&P are in hot water and very close to some critical supports. Precious metals look a-okay to targets but the paranoiac in me can't help peeking ahead in this election year and wondering if 'dey got somfin' up dey'r sleeve?' for later in year. But that of course is getting way ahead ourselves. Right now everything is just dandy and that's the way I like it.
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$100 a barrel crude did not help the stock market today! I think we are in for a few more months of housing market weakness too!
ReplyDeleteCome on wid dat gold. I been building a splosive position fo 2 yrs. Lucy. Bring yo poon.
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