Going through my public list I noticed the recent up-move in ANDE – Andersons wasn’t confirmed by volume. As stated in my chart annotations, this increases the odds for a false breakout to the upside. Overall the chart looks bullish and the sector is moving up nicely as well. Still, this is something to monitor closely.
Updated charts on my public list:
- Euro: Possibly a bullish flag pattern in the making. Euro chart. Although a US Dollar bounce looks very likely it might be a sign the bounce might turn out to be much weaker than expected.
- GMO – General Moly: Possibly an ascending triangle in the making. GMO chart. Keep in mind GMO has a very erratic trading personality. Caution is warranted. Molybdenum Sector Overview Chart.
- Gold: Redrew the flag. Gold chart.
- Silver: Redrew the flag. Silver chart.
If a position doesn’t feel right as soon as you put it on, don’t be embarrassed to change your mind and get right out. – Michael Marcus
My public list with all my charts can be viewed here:
http://stockcharts.com/def/servlet/Favorites.CServlet?obj=ID2791469
Buenas noches!