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FED WEDNESDAY came and went and it rocked many of the areas that we anticipated. We have been invested in Energy stocks for some time, so we actually benefited from the upward push that many of the energy stocks received. Along with Energy and a few other areas of interest, we have also recently discussed the precious metals area again, and I sent out an intraday alert on Tuesday regarding the set ups that I had been watching. So why the puppy with the leash? Notice this...
GOLD
You can see that Gold had started breaking upward this week, and Wed it reversed into the close. Now notice Silver...
Read MoreIf you look at the volatility in the stock market lately , it would seem reasonable to believe that this Fed Mtg Day could be a shaky one. Yesterday TWTR ironically got rocked from an untimely tweet on their earnings. As mentioned in a prior report, Housing stocks MTH, PHM, TOL, LEN , DHI all got rocked, while MSFT, NFLX, GOOGL shot up higher with their results. After the bell, SSYS, WYNN, AKAM and a few others joined TWTR in the selling off , so we're getting a mixed picture with the weeks earnings reports. And then there was this chart...
IBB - Yes, it has recovered it's 50sma before, but it has work to do. Thats some pretty high volume selling lately.
With the IBB 2 day drop, something interesting happened with the SPX...
Read MoreLets discuss GOLD& SILVER briefly.
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