SPX (S & P 500) Rolling Over But NEM Outperformed The XAU By +0.46% Today
SPX's short term upcycle is flattening out as can be seen in it's 5 day chart:
http://finance.yahoo.com/q/ta?s=%5Espx&t=5d&l=off&z=l&q=b&p=&a=m26-12-9%2Cp12%2Cfs%2Cw14&c=
The Fed once again took no action, so they've drastically changed gears and pulled the punch bowl from index fund traders, which should soon lead to a substantial decline in most indexes. See
http://www.newyorkfed.org/markets/omo/dmm/temp.cfm?SHOWMORE=TRUE
Tomorrow's Federal Reserve Bank Credit release should show a very large decline from last week, which will be a very bearish sign.
http://finance.yahoo.com/q/ta?s=%5Espx&t=5d&l=off&z=l&q=b&p=&a=m26-12-9%2Cp12%2Cfs%2Cw14&c=
The Fed once again took no action, so they've drastically changed gears and pulled the punch bowl from index fund traders, which should soon lead to a substantial decline in most indexes. See
http://www.newyorkfed.org/markets/omo/dmm/temp.cfm?SHOWMORE=TRUE
Tomorrow's Federal Reserve Bank Credit release should show a very large decline from last week, which will be a very bearish sign.
posted by Joe Ferrazzano at
1:12 PM
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