Already overextended. Look olso at longer time ftame. GOOD LUCK
Look also at shorter time frames. GOOD LUCK
Closed at the new high yesterday. The brave ones are alredy building up short position. Mondey will be .... Delightful weekent to all
Am not brave enough to build up a short position - it is at 16.015eur, almoust 35% ytd.
Does not look bullish to me. When it goes up gold usually falls because silver in up moves was for last years rising faster then gold. Some MACD resistance.
Look also the weekly chart.
Weekly correlation with SPX is showing first signs of wake up. GLD could decide for longer type fourth wave - market will tell. Look also at weekly chart.
Looks pretty bearish. It is clearly in a fourth wave. Expect just a fake breakdown here and a longer ABCDE fourth wave which would better align with todays markets. Look also at monthly chart.
Thought that DAX will fall after the fed. Opposite happened - so changing the tactics: changed the ratio and will try to buy EURJPY.
It is bullish that the SPX holds so well after the FED, better than if it would have just spiked higher. For NOW it seems that shorts can again get some trouble. Look also at monthly chart.
Look also at weekly time frame or compare with EWG which week ago broke up through monthly resistance.
Correlation with DOW is pretty high.. Also think that index will not correct very much. Sector rotation into big caps can drive this market higher.