Gold and Stock Market Due for a Rally
Stock-Markets / Financial Markets 2013 Jun 23, 2013 - 05:51 PM GMT
Tom Clayton writes: Gold is very oversold on the MACD and %R, last time %R was this low was Oct 08 from which prices more than doubled after %B rallied to 0.49, corrected and then pushed to above 1.0.
The VIX is approaching 18.90 and if we look back at 2007, the VIX traded between 18.90 and 30 for several months while the market traded to new highs JUly to Oct before the market started plunging into late December. Not until July, Aug 08 did VIX move above 30.
By Tom Clayton
stemsmexico@gmail.com
© 2013 Copyright Tom Clayton - All Rights Reserved
Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisors.
© 2005-2022 http://www.MarketOracle.co.uk - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.