"As a technician, I feel that there are few analysts that offer value for me, but you do. Your work on Gold ratios has helped my analysis greatly." --Jordan Roy-Byrne, CMT (The Daily Gold) 4.9.10

Thursday, May 22, 2008

NDX, Dow, HUI & Oil

Tying up a few loose ends with the following charts:

NDX does indeed break after filling gap as was speculated upon here. Dow looking unhealthy but could soon bounce. HUI is in a setup to pull back a bit, which would be healthy at this point. Oil gives me the comfort of knowing that things are as they always are; spring follows winter, day follows night and I am wrong on oil. Blow off dynamics appear to be in play.