Prediction On Gold Prices 2010
Day Trading TraderMongers Economic Analysis: August 11, 2010 Jobless Claims
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S & P 500
Decreased growth in China and mark the U.S. recovery and the Fed Federal pledged to buy more Treasuries to keep the economic recovery in the path taken to markets by the day after the FOMC announcement.
Historically, August is the weakest of all seasons and many institutions, investors and traders are absent during the month of August holidays for their children before returning to school in September. We said be careful with demonstrations in mid-August seems to be stronger than the beginning and Finally, according to Stock Trader's Almanac.
Traders seem to sell before the weekend and follow the direction of foreign markets after that trade on Monday. However, if markets are lower for the week ahead, traders can buy their shorts before the weekend to look forward a demonstration on Thursday or Friday. We are currently trading below the level of 1100 on the S & P. Last week we had a problem breaking through hard resistance levels in January 2010 due to thin volumes in August.
In the daily chart the S & P behaves exactly as predicted. He recovered to 1125 levels beginning January 2010 the resistance then due to a slim volume fell threw between 144 and 200 days moving averages. We expected August trade below this level due to the lack of volume and uncertainty in markets such as China slowdown, the upcoming elections, and weak labor market.
The market volatility index or VIX track prices investors are willing to pay for options on the S & P 500, generally to hedge against falling stocks. Today the VIX trading at 144 and 200-day moving averages indicate more risky approach for investments and assets. The thin trading volume in August magnified moves in the VIX for the markets may be less liquid markets fear engine.
The Chicago Board Options Exchange (CBOE) Market Volatility Index measures the activity options in the market and is widely used to track the S & P 500. A common negotiating strategy for traders and investors includes a VIX level of 30 or more means an immediate change of the shares in cash. Merchants and investors are pulling out of markets and the search for security and safety in Treasury bonds, gold and the dollar when the index is trading above 30.
Summary of key S & P Pivot levels
1219: S & P 500 52 weeks
Technical support and resistance levels natural
1125: January 2010 Resistance Level
1100: Natural Support Level
Figure 15 minutes Technical Levels
1120: 144 Fibonacci-day moving average five-minute chart
1118: 200 day moving average on 5 minute chart
Figure hour daily technical levels
1102: 144 Day half Fibonacci Mobile Daily Graphic
1091: Day moving average 200 on the daily chart
Economic Daily Calendar
Jobless / 8.30 EST
Natural Gas / 10.30 EST
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About the Author
Shamim Ziyaaudhin is one of the editors of TraderMongers.com a one stop trading news feed source for worldwide traders and investors. Their philosophy is to establish the standard for providing market news feed that is comprehensive, accurate, and concise. Providing technical and fundamental trading setups, economic numbers, and calendar events throughout the trading day. Shamim has a Masters in Business Administration from Fairleigh Dickinson University and holds a degree in Psychology from Rutgers University. Click here to subscribe to Tradermongers Live News Feed
August 2010 predictions: Gold to hit US$1400 in six months – silver to skyrocket!
