Redback's Australian Stock Market Report: Gold ETF as at 21/10/2010

Thursday, October 21, 2010

Gold ETF as at 21/10/2010

The Gold ETF usually trades inversely to the Australian Stock market (XAO/XJO).

Currently it is trending sideways just like the Australian Stock Market. Both appear poised to make a decisive move.

Which way?

Let the market tell us.

Cheers

Red

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About this blog

Emphasis in this report is given to inter-market analysis (bonds, gold, international stock markets, currencies), market sector analysis and breadth analysis. Mention will also be made of simple Technical Analysis tools. The main indicators used are the MACD (Moving Average Convergence Divergence), RSI (Relative Strength Index), Slow Stochastic, trend lines and On Balance Volume.

To make matters clear. I am not a licensed financial advisor. Any statement that I make should be read as the personal opinion of a simple chartist trying to make sense of a chaotic environment.