Category Archives: Uncategorized

Gold May Be Breaking Out Of A Five Year Base

The SPDR Gold Shares ETF (GLD) dropped 45% from its 2011 high to its 2016 low. It has been basing under the 38% retracement level of that range for the last five years. This extended period of horizontal consolidation has formed a “W”-bottom with resistance situated in the $132.50 to $132 area. There is a… Read More »

Gold Ready For A Volatile Move Higher

The SPDR Gold Shares ETF (GLD) has been moving in a triangle formation for the last two months above horizontal support in the $124 area. On Wednesday it broke above the triangle downtrend line and its 50 day moving average. Overall volume jumped higher and the Chaikin money flow index is firmly in positive territory.… Read More »

Intel Shares Are Rolling Over – A Pullback Could Be Deep

The Intel (INTC) chart looks like it is rolling over. A high wick shooting star candle formed last Tuesday which was followed on Thursday by a large bearish dark candle. The stochastic oscillator has made a bearish crossover and has moved below its overbought border, and the accumulation/distribution line is pointed lower. Intel has been… Read More »

The Index Charts Are Looking Fragile

The broader market indices finished the week looking weak. The bounce off the February low has been impressive, but it’s been a process and part of that process requires pullbacks. Next week we could see some retracement which could either be healthy for the market, or could take the indices down through some important levels… Read More »

CommVault Systems – Up 1.4% Forming Bullish Hammer Candle

Shares of CommVault Systems (CVLT) bucked the broader market weakness in Wednesday’s session. The enterprise data back-up and recovery services software company was up 1.4%, forming a strong bullish hammer candle on its daily chart. But it was more than a one day event. The price momentum and money flow indicators have been sending bullish… Read More »