Thursday, October 28, 2010

A flat week so far

Almost no change this week, SPX moved 10-20 points up and down but at the end of each trading day it remained almost unchanged. We still have a bullish EMAs crossing on hourly chart, DMI is green on both daily and weekly charts but one indicator, MACD, turned slightly negative so I think we should be cautious here and maybe take a little bit of the profit from the table. MACD is usually more sensitive than both EMAs crossing and daily DMI which works both ways, is taking you out of the market or brings into the market faster than EMAs and DMI but also generates more false "buy" and "sell" signals.






Gold is giving mixed signals, bearish EMAs crossing, price bellow flat 5 days SMA but daily DMI is slightly positive one more time. Silver on the other hand turned bullish again, we have a bullish EMAs crossing, price above rising 5 days SMA. In top of this daily and weekly DMI are positive. One should be aware that MACD didn't give a "buy" signal for neither of them