The Bottom Line: “When to take profits”

Posted by Don Vialoux: Timing the Market

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Upside potential by North American equity markets into April remains, but many seasonal trades also expire around mid-April. Retention of existing seasonal trades makes sense. However, new seasonal opportunities coming into April are relatively sparse (An exception is the Technology sector). In most cases with seasonal trades, the question is “When to take profits”?

Silver fell $0.38 per ounce (1.32%) last week. Intermediate trend remains down. Support is at $27.92 and Resistance is at $29.35. Silver remains below its 20, 50 and 200 day moving averages. Strength relative to Gold remains negative. Short term momentum indicators are neutral.

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Gold slipped $10.40 per ounce (0.65%) last week. Intermediate trend is down. Resistance is at $1,619.70. Gold remains above its 20 day moving average and below its 50 and 200 day moving averages. Strength relative to the S&P 500 Index remains negative, but shows early signs of change. Short term momentum indicators are neutral.

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The AMEX Gold Bug Index slipped 2.71 points (0.75%) last week. Short term trend is up. The Index remains above its 20 day moving averages. Strength relative to Gold remains neutral. Short term momentum indicators are neutral.

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The S&P 500 Index gained 12.30 points (0.79%) last week to close at an all-time closing high. Intermediate trend remains up. The Index remains above its 20, 50 and 200 day moving averages. Short term momentum indicators remain overbought.

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The TSX Composite Index eased 7.46 points (0.06%) last week. Intermediate trend remains up. Support is at 12,602.54 and resistance is at 12,904.71. The Index remains below its 20 day moving average and fell below its 50 day moving average. Strength relative to the S&P 500 Index remains negative. Short term momentum indicators are trending down.

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Crude Oil gained $3.52 per barrel (3.77%) last week. Intermediate trend remains down, but will change to up on a move above $98.24. Crude remains above 20 and 200 day moving averages and moved above its 50 day moving average. Strength relative to the S&P 500 Index changed from neutral to positive. Short term momentum indicators continue to trend up.

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….much more commentary and 40 more Charts HERE