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Richard's Remarks

 

I'll start this site by saying that I received a first buy signal on GDXJ when the point and figure chart showed an initial breakout at 37 (see below). If GDXJ hits 40, we'll have a second and much more important buy signal. Meanwhile GDXJ is building an ever-larger base.

 

  

 

Wednesday was a rotten day for the market with the Dow down 102 points to close at 16,843. Remember, I'm watching the big even number of 16,000 as a critical support level for the Dow. By the same token I'm watching 4,000 as the critical level for the NASDAQ. And above all, I'm watching 80 as the important level for the Dollar Index.

 

I'm showing the Dow below -- note that RSI was overbought and is now turning down -- MACD is also rolling over.

 

 

 

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On an entirely different note, I've been wrestling with the concept of spirituality. I shouldn't do this, but since ... Log in or subscribe to continue reading.


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