What to Watch on Friday Afternoon
Source: http://blogs.moneyandmarkets.com/blog/red-hot-energy-and-gold/0/0/what-to-watch-on-friday-afternoon-Posted on Friday, October 31st, 2008 | In Energy Markets, Gold Markets
Contributed by: Sean Brodrick (http://blogs.moneyandmarkets.com/blog/red-hot-energy-and-gold) -
The S&P 500 is very close to giving a weekly ‘buy’ signal.
We are very close to an “outside reversal” candlestick on a weekly chart of the S&P 500. It just has to go 5 points higher than it has already. If it does — and the S&P 500 ends the day positively — that would be a “buy” signal.
The weekly RSI is already giving a buy signal.
Why is the S&P 500 so positive-looking, especially with earnings generally bad? I don’t know — you can throw the chicken bones on that one.
To be sure, the market can change wildly in the last half an hour of trading. So don’t jump the gun.
Last 5 posts by Sean Brodrick
- The Golden Phoenix - February 25th, 2009
- Blessing in Disguise - February 4th, 2009
- What I'm Reading Today - January 7th, 2009
- Gold and Oil Short-Term Trends - January 7th, 2009
- Is Gold Poised for a Pullback? - January 6th, 2009
 About Sean Brodrick (http://blogs.moneyandmarkets.com/blog/red-hot-energy-and-gold)
Sean Brodrick joined Weiss Research in 2000 as an analyst, bringing more than 25 years experience as a journalist and financial analyst to the position. He is Weiss Research’s small-caps specialist, especially in natural resources, and is the editor of the company’s Red-Hot Canadian Small-Caps, as well as a regular contributor to its daily e-letter, Money and Markets. Previously, Mr. Brodrick was the investment director of The Sovereign Society, the world’s leading publisher of offshore asset protection strategies and global investment opportunities. Recognized for his expertise on natural resources and Canadian and Australian investment opportunities, Mr. Brodrick has been featured on many financial talk shows, including CNBC Squawk Box, Fox Business, CNN, The Glenn Beck Show, Your World with Neil Cavuto and Bloomberg Market Line. He is a weekly guest on Market Matters Radio, a contributing columnist to MarketWatch.com and a frequent commentator on one of Canada’s premiere financial websites, HoweStreet.com. His report, “70 Days to Empty,” has garnered acclaim for its analysis of the forces pushing America toward its next oil crisis and was described by The Daily Reckoning as “the most important report you’re likely to read this year,” while his knowledge of uranium has helped investors earn solid gains on the commodity. Mr. Brodrick holds a B.A. degree from the University of Maine. |
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