"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

Tuesday, May 8, 2012

SPX at do or die support of its own...

Enough precious metals micro management.  NFTRH186 said all it had to say about risk management and opportunity there. The targets are the targets and you need to survive to get to them intact.

SPX on the other hand has not even hinted at the pain that gold bugs have taken. Here is the daily chart at an important support level. That's not a good looking pattern, and a break here would activate it.














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