Market Analysis – SP500, AAPL, UA, GLD, GOLD
This market remains extremely difficult to trade. Right now the big talk throughout the blogosphere and amongst financial gurus is the very noticeable head & shoulders pattern developing which suggests much lower prices are looming around the corner. The catch is though that everyone knows about it, and typically popular opinion is proven wrong.
With that said though, cash still remains king. There are no major signs or setups that are suggesting we will move higher from here. The leaders are lagging and only a few stocks of which two are featured below actually hold bullish patterns. While I don’t mind being proven wrong, until I am there is nothing better to do but sit back, relax, and watch from the sidelines!
Charts and analysis below. Stay frosty.
