{"id":273,"date":"2010-06-28T10:17:48","date_gmt":"2010-06-28T14:17:48","guid":{"rendered":"http:\/\/www.silver-investor.com\/blog\/?p=273"},"modified":"2018-06-10T10:58:21","modified_gmt":"2018-06-10T10:58:21","slug":"the-technical-traders-view-on-gold-spx-and-financial","status":"publish","type":"post","link":"https:\/\/www.themorganreport.com\/blog\/the-technical-traders-view-on-gold-spx-and-financial\/","title":{"rendered":"The Technical Traders View on Gold, SPX and Financial"},"content":{"rendered":"

The Technical Traders View on Gold, SPX and Financial<\/strong>
\nIt was a non stop sell off last week in equities as the SP500 sold down 4 days straight with a small move up on Friday. While investors were cashing out of stocks, we saw that money move into the big shiny yellow safe haven \u2013 Gold.
\nI have put together a short video showing you how I see the market and what I think is likely to happen this week for gold, stocks and financials. But here are my Cole\u2019s Notes version incase you cannot view the video.
\nGold:<\/strong>
\n–\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Long term trend is up and I am currently long gold but feel a sharp correction could happen any day.
\n–\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Price\/Volume action on gold is bearish short term
\n–\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 We took some money off the table on Friday into the strength
\n–\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 I am protecting my long position using a stop around the $1240 area
\n–\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 I still like gold and hope it rallies, but if it turns around I will be in cash until the correction is over.\u00a0
\n\"\"<\/a>
\nSP500:<\/strong>
\n–\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 SP500 is currently oversold after its 4 day sell off
\n–\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 This index is trading deep into a support level
\n–\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Financial sector and GS (Goldman Sachs) tend to lead the market and they performed well on Friday.
\n–\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 I feel the SP500 index is due for a solid 2-3% bounce and possibly a 4-6% rally
\n\"\"<\/a>\u00a0\u00a0
\nWatch My Video for More Detailed Analysis and Price Levels
\n<\/strong>http:\/\/www.thegoldandoilguy.com\/articles\/sunday-june-27th-gold-spx-video\/<\/a>
\nIf you would like to get my detailed trading analysis and trading signals please visit my website: www.TheGoldAndOilGuy.com<\/a>
\nChris Vermeulen<\/p>\n","protected":false},"excerpt":{"rendered":"

The Technical Traders View on Gold, SPX and Financial It was a non stop sell off last week in equities as the SP500 sold down 4 days straight with a small move up on Friday. While investors were cashing out of stocks, we saw that money move into the big shiny yellow safe haven \u2013More<\/a><\/span><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[121,89],"tags":[],"yoast_head":"\nThe Technical Traders View on Gold, SPX and Financial<\/title>\n<meta name=\"description\" content=\"The Technical Traders View on Gold, SPX and Financial\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.themorganreport.com\/blog\/the-technical-traders-view-on-gold-spx-and-financial\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The Technical Traders View on Gold, SPX and Financial\" \/>\n<meta property=\"og:description\" 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