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Stocks and commodities are under pressure from the rising dollar. We have already seen a sizable
pullback but there may be more to come in the next few trading sessions. While my negative view on stocks and precious metals will rub gold and silver bugs the wrong way, I just want to point out what is unfolding so everyone sees both sides of the trade. Let’s take a look at some charts and dig right in. Words: 222
So says Chris Vermeulen (www.thegoldandoilguy.com) in edited excerpts from his original article*.
Lorimer Wilson, editor of www.munKNEE.com (Your Key to Making Money!) has further edited ([ ]), abridged (…) and reformatted (some sub-titles and bold/italics emphases) the article below for the sake of clarity and brevity to ensure a fast and easy read. The author’s views and conclusions are unaltered and no personal comments have been included to maintain the integrity of the original article. Please note that this paragraph must be included in any article re-posting to avoid copyright infringement.
Dollar Index Daily Chart:
SP500 Futures Index Daily Chart:
Silver Futures Daily Chart:
Gold Futures Daily Chart:
Crude Oil Futures Daily Chart:
Conclusion
Overall, the charts are starting to look very negative which the majority of traders/investors around the world are starting to notice…Now that the masses are starting to get nervous and are beginning to sell out of their positions, I am on high alert for a panic washout selling day…when everyone around the world panics at the same time and bails out of their long positions [causing] prices to drop sharply and volume to shoot through the roof.
Hold on tight as this could be a crazy few trading sessions.
*http://www.thegoldandoilguy.com/articles/
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