Technical Notes – Update – Nov 25

In my previous technical note, markets showed technical divergence.  That was before QE2 FED official announcement.  Since then, we rallied higher and subsequently are in correction mode.  Is this a top for S&P? or is this just a correction?

Here are the charts once again.  

Note: 

  • Gold – Possible H&S Pattern (will have to wait and see)
  • Silver – Has a very well defined trend
  • SPY –   Mini trading range with 1200 as resistance
  • SPTSX – Has major support 12,500 and has broken its downtrend

This entry was posted on Friday, November 26th, 2010 at 4:58 pm and is filed under Financial Markets/History, Interesting Charts and Stats, Original Articles, market commentary. You can follow any responses to this entry through the RSS 2.0 feed. Responses are currently closed, but you can trackback from your own site.

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