Thursday, November 29, 2012

The 2007 S&P as Analogue For the 2012 Nasdaq 100 (and Silver still looks shortable) SLV; QQQ

Silver is up 23 cents to $34.00, in pre-market trade the Cubes are up 1/2% with the index futures up 19.00 to 2679.50.
From Market Anthropology:
A Pattern Potpourri

If the futures maintain their bid this morning, it looks like the NDX has thrown caution to the wind and will make a stab at the 50% retracement level from the November 16th intraday low. 
Silver turned down sharply yesterday - although recovering spritely with the risk tide that came back into the markets. The following charts were updated from last weeks note (see Here) on silver.  
See also yesterday's "A Chance to Short Silver (SLV)"