The S&P 500 (SPX) is valued about the "middle" between the recent low, and the highs of early January. Notice the 200 moving average is on a course to meet the S & P valuation sometime in the next couple of months, which is the target.
S&P500 (SPX)
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| From WebSurfinMurf's Financial Blog |
Gold and Gold miners have some interesting resistance levels. The Gold Miners (GDX) clearly has a resistance level around 43, both from previous highs and previous lows.
Gold itself is actually a good buy here, unless gold breaks below the lower red trend line. In general gold is on an upswing. So even though I am a little skittish on gold, "the charts" show decent room for GDX to move up to 43, and Gold in general trending higher.
*WARNING* Any break below the trends depicted is a sell
Gold (GLD)
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| From WebSurfinMurf's Financial Blog |
GDX
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| From WebSurfinMurf's Financial Blog |
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