Friday, August 14, 2015

Gold Takes A Breather - The Wall Street Examiner

Share!Cycle screening measures weakened on Thursday. The aggregate indicator fell below the tight range it has been in since last week, but it is still within the slightly declining range channel.

Share!The SPX is trading in an indecisive pattern between converging lines of support and resistance.  Cycles have taken a slightly more pronounced tilt however, with updated projections.

Share!Withholding tax collections are bouncing back in August after a weak July. This week is the reference week for the BLS survey. Here’s what the current, real time tax collection means for the coming top line economic data and for the August nonfarm payrolls number, as well as for future Treasury supply. Get The Wall Street Examiner…

Share!Gold has cleared and now pulled back to trend resistance at 1114. If they manage to keep it above that, a bigger challenge awaits.

Share!Cycle screening measures weakened on Wednesday. The aggregate indicator declined but stayed in the tight range it has been in since last week. The indicator won’t render a conclusive signal until it breaks out of that range decisively one way or the other

Share!The SPX broke down from the triangle pattern in the morning only to recover to within the pattern by the close. What needs to happen next?

Share!Gold is challenging longer term resistance at 1120 with a bigger challenge just above.

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