Wednesday, July 11, 2007

To Each his Own

I was wondering why news like this is not carried over our mainstream media. Are not Turkish troops on the Iraqi border as important as Anna Nicole or Paris Hilton escapades? I know this is not as important as American Idol but maybe this type of Isreali/Syrian issue should get, what, 15 seconds coverage. As I said in the title, to each his own.

With this backdrop I thought we could visit gold ($GOLD top upper). The chart above shows positive divergences on both the RSI and MacD. The 200 day held and we are fighting to re-take the 50. $668 and $680 are the next buy triggers.

Triple top on the Dow? Possibly. What I thought oringinally was a rectangle (chart top lower) could be morphing into a triple top formation so we watch with great interest this narrow, arcane comically over reported, easily manipulated pig of an index.

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