Monday, November 15, 2010

Quick update

1-Day RUA:

Both long and short histos are in negative territory, bearish momentum developing.
SB volume cross signals bearish volume surge and takeover. What we need to wait for, is the moment when buy volume returns and diverges from zero line. As per moment it converges to zero. Market is in unsafe territory.

Taking a look into the 60-min charts, it clearly shows that tomorrow is a nice day to test resistances.
I am waiting so much to see how strong will be the upcoming bear. That will give us a lots of information about this bear cycle. We might see a dark and scary Tuesday. No problem, we are out and our 1 unit of HUI keeps well.!

HUI is keeping extremely well. It decoupled to be an inverse mirror of dollar. I feel gold sector and especially gold miners will have a slight cascade fall, but they are full with bullish momentum.
If tomorrow HUI falls dramatically, I might consider a buy of 1 HUI.

What gives some doubt with HUI is the bearish surge signal on MVO.

XAU is in bearish , selling volume rose from steady zero.
For sure, it has one more cascade down.

2-day XAU gives a warning as well, there is an MVO bear signal. It should be taken seriously, risk became high holding silver for a while.

Good luck!

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