Thursday, November 17, 2011

Charts for Consideration

I actually spent the evening taking a huge break and having time that meant very much to me. Luckily I scored the Twitterverse for the best charts and so you get some things to think about.

Silver, readers know I am a huge fan, has been hijacked by MOMO types and has been a great tell for me on markets for some time. No one is better at showing this than Market Anthropology so I submit this chart for review on market direction (click for larger view):
Be warned.

Second up is a type of chart I hate to use, a 3X ETF but the candle is important and my man on Twitter @MarketPlunger brought it up. UCO, a 3X levered oil play:
Huge respect for my man, but that is a clear Gravestone Doji, and its not just in his charts. UCO via FinViz:
Here is USO, no leverage:
An ECB bazooka cannot be ruled out, but these charts are not funny.

Have a good night.

1 comment:

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