its risky to anticipate further qe, page-5

Here's something from Jon Nadler's latest missive.


'The recent breach of certain pivotal moving averages (the 150, 200, and 300 DMAs) and the double “Death Cross” (that of the 50DMA under the 200DMA and that of the150DMA under the 200DMA) also has market participants on edge. However, the penetration of the less often tracked 300DMA at $1,649 (as shown in the chart below) is what has some technicians up at night and applying the “bear market turn” label to the yellow metal for the first time in several years.'