{"id":34308,"date":"2012-12-13T16:49:07","date_gmt":"2012-12-13T21:49:07","guid":{"rendered":"http:\/\/countingpips.com\/forex-news\/?p=34308"},"modified":"2012-12-13T16:49:07","modified_gmt":"2012-12-13T21:49:07","slug":"technical-trades-of-the-week-spx-us-dollar-nat-gas","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex-news\/2012\/12\/13\/technical-trades-of-the-week-spx-us-dollar-nat-gas\/","title":{"rendered":"Technical Trades Of the Week \u2013 SPX, US Dollar, Nat Gas"},"content":{"rendered":"

By Chris Vermeulen, www.TheGoldAndOilGuy.com<\/a><\/span><\/strong><\/p>\n

Yesterday\u2019s price action was very bearish yet again and we are patiently waiting for a counter trend pullback to happen. While three are some good looking plays out there I really do not want to get long until the market clears the air with a bout or three of strong selling. Remember 3:4 stocks follow the market and the odds of picking a commodity or ETF that bucks the trend is unlikely. If you are interested in powerful stocks & ETFs the buck the trend check out my FREE Trading Ideas live Go Here: https:\/\/stockcharts.com\/public\/1992897<\/a><\/em><\/p>\n

SP500 \/ Broad Stock Market:<\/b><\/h3>\n

We have seen a bug run up in stocks this month and things are looking a little long in the teeth. A large number of stocks are trading above their upper Bollinger band and the broad market is testing that key resistance level also. Typically when a Bollinger band is reached we see price reverse for a couple days at minimum.<\/p>\n

While the equities market is in a new uptrend as seen by the moving averages I pullback seems imminient. The last two days has formed reversal candles and are pointing to lower prices.<\/p>\n

\"Dec12SPY\"<\/a><\/p>\n

 <\/p>\n

Dollar Index Hourly Chart:<\/b><\/h3>\n

This chart shows a possible bottom forming in the dollar pointing to a 3-8 day pullback in stocks.<\/p>\n

\"Dec13DXBottom\"<\/a><\/p>\n

 <\/p>\n

Gold Futures Hourly Chart:<\/b><\/h3>\n

\"Dec13Metals\"<\/a><\/p>\n

 <\/p>\n

Natural Gas Hourly Chart:<\/b><\/h3>\n

\"Dec13NatGas\"<\/a><\/p>\n

 <\/p>\n

Morning Trading Conclusion:<\/b><\/h3>\n

Looking at the charts on several different time frames, not all shown here, technical analysis shows a pullback in stocks is highly likely. This is what we are currently positioned for.<\/p>\n

The US dollars downward momentum is slowing and if it can find a bid today it should trigger strong selling in both stocks and commodities. Gold and silver are down sharply along with miners.<\/p>\n

We have been watching natural gas for a few months and know that it has been trading inverse to what stocks do. This bodes well for a bounce in natural gas if stocks start a sell off. That being said, natural gas is trading at a key tipping point that could spark a very fast and hard drop. This knife can fall at a speed that will take a slice out of your trading account if not traded and managed properly (tiny position and use of a stop). I actually like natural gas the more it moves down and could issue a buy alert on it today or this week. I would like to see volume decline at this level showing the momentum is slowing\u2026<\/p>\n

Get My ETF Trade Alerts Now: www.TheGoldAndOilGuy.com<\/a><\/h3>\n

Chris Vermeulen<\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

By Chris Vermeulen, www.TheGoldAndOilGuy.com Yesterday\u2019s price action was very bearish yet again and we are patiently waiting for a counter trend pullback to happen. While three are some good looking plays out there I really do not want to get long until the market clears the air with a bout or three of strong selling. … <\/p>\n

Continue reading “Technical Trades Of the Week \u2013 SPX, US Dollar, Nat Gas”<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-34308","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex-news\/wp-json\/wp\/v2\/posts\/34308","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/forex-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/forex-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex-news\/wp-json\/wp\/v2\/comments?post=34308"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/forex-news\/wp-json\/wp\/v2\/posts\/34308\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex-news\/wp-json\/wp\/v2\/media?parent=34308"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex-news\/wp-json\/wp\/v2\/categories?post=34308"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex-news\/wp-json\/wp\/v2\/tags?post=34308"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}