Comments for November 13, 2009
LOOKING AHEAD TO FRIDAY BY REFLECTING BACK ON THURSDAY'S ACTION
Metals trend is overall, Bullish
METALS: 11/13/09 Lower closes yesterday for gold, silver, platinum and copper. Copper settled lower still in three weeks of consolidation. The overall trend is still higher while we wait to see which way copper breaks out. Gold keeps leading way making a new CONTRACT HIGH again but closing lower this time in reversal type action just missing a key reversal. Silver also closed lower along for the ride the latter still in resistance area feeling heavy overall to me. Platinum made a new contract high and then also closing lower in reversal type action but in a strong up-trend like gold.
INDICIES: 11/13/09 Lower closes for the S&P's, nasdaq along with the cash and dow futures. All of the indices are still in up-trends with the nasdaq making a new contract high before settling lower in reversal type action.