by Don Vialoux, Timingthemarket.ca
Broader Markets Reveal Peak – Use the Weakness to Accumulate or continue to hold Seasonally Strong Gold, Gold Equities, Canadian Energy Sector, and Software
August 24, 2012
(Editor’s Note: Don Vialoux is scheduled to appear on Berman’s Call on Monday at 11:30 AM EDT)
Interesting Charts
More short term technical evidence that U.S. equity markets have passed a short term peak! Short term momentum indicators for the S&P 500 Index have rolled over from overbought levels. The Index is about to break below its 20 day moving average at 1,399.12
Ditto for the Dow Jones Industrial Average! It already has broken below its 20 day moving average.
Weakness in equity market sparked an increase in the VIX Index.
One of the weakest sectors yesterday was the steel sector following a downgrade by Dahlman Rose. (more)
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