The Market Perspective: Wednesday Mid Day

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July 25, 2012

Wednesday Mid Day

Wednesday July 25, 201212:35 PM CST

Gold so far is holding over $1600, the 50 day MA is 1586 so a close over that would be a positive

Central Fund generated a buy signal on the daily SAR Parabolic today. GDXJ is up but needs another 60 cents to generate a buy on SAR PAR.

SPX

The hourly chart of SPX generated a SAR PAR buy signal earlier this morning. We speculated it would be four to six days before a reversal, this is day four. note the two previous turns were slow with the larger up move coming the next day.

UUP

UUP the US Dollar, generated a SAR PAR sell signal on its hourly chart. TLT is down a smidgen.

Posted at 01:34 PM | Permalink

Technorati Tags: SPX UUP

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The Market Perspective

Market Commentary by Dennis Elam dennislelam@gmail.com