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I see a possible correction back to low 1100's to scare some...

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meric

1,591 Posts.

23/10/15

18:29

Post #: 16242672

Originally posted by UnclePanda ↑

It's getting close, gold bugs need to see a closing above 1178 tonight to suggest gold can go higher next week. A closing below 1155, unlikely tonight, will suggest immediate downtrend should follow next week.

No real major news tonight on the macro front.

Column 1

1 08:30 AM Germany Markit Manufacturing PMI Flash

2 08:30 AM Germany Markit Services PMI Flash

3 09:00 AM Euro Area Markit Services PMI Flash

4 09:00 AM Euro Area Markit Manufacturing PMI Flash

5 10:00 AM Italy Retail Sales MoM

6 01:30 PM Canada Core Inflation Rate YoY

7 01:30 PM Canada Inflation Rate YoY

8 01:30 PM Canada Inflation Rate MoM

9 02:45 PM US Markit Manufacturing PMI Flash

10 05:00 AM Argentina Presidential Elections

As such, US reporting season should have much to say. US futures pointing slightly higher, I wouldn't be surprised to see a lower close tonight after last nights big run. That said, apparently the US congress will increase the debt limit tonight to 19.6 trillion - if this happens, we could see a pull back in stocks with money returning to short term money market.

Expand

I see a possible correction back to low 1100's to scare some people off the new bull trend and I hope UP takes profit at that point so he doesn't go broke.

2 Upvote

0 Great analysis

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Add GOLD (COMEX) to my watchlist

	Column 1
1	08:30 AM Germany Markit Manufacturing PMI Flash
2	08:30 AM Germany Markit Services PMI Flash
3	09:00 AM Euro Area Markit Services PMI Flash
4	09:00 AM Euro Area Markit Manufacturing PMI Flash
5	10:00 AM Italy Retail Sales MoM
6	01:30 PM Canada Core Inflation Rate YoY
7	01:30 PM Canada Inflation Rate YoY
8	01:30 PM Canada Inflation Rate MoM
9	02:45 PM US Markit Manufacturing PMI Flash
10	05:00 AM Argentina Presidential Elections

I see a possible correction back to low 1100's to scare some...

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Movers and Shakers: Zip Co, MinRes, Kuniko, more – The week's top ASX gainers

Bitcoin hits fresh record as instos pile into BTC ETFs – and Trump helps, too

The ASX can overlook its Telecomm small-caps. Here’s one diversified brand with an international footprint

'We're looking': Nickel-rich Indonesia sounds graphite warning to Aus producers

Making money: How many microcaps should be in an investor's portfolio?

The Altcoin Landscape (Part 1): Key alternative cryptocurrencies to watch

Aussie inflation seemingly hit a 3 year low. So why's the ASX200 red?

What each US election outcome would mean for Australian companies & investors

Week 44 Wrap: Relatively boring week ahead of US election; HotCopper's most watched; Oz inflation at 3.5%

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