Gold is trying to breakout again. We have seen this movie multiple times. The big question is the US Dollar.
The five year picture for Gold is even more interesting.
I will be on MarketWatchers Live on Wednesday February 21st to cover off this Gold setup as well as discuss the book in more detail. You can follow this link to the Webinars tab on StockCharts.com. This will connect you to the live show at 12 PM ET.
In the meantime, I'd like to introduce the book trailer!
For the Stock Charts For Dummies book, our video specialist just released this Book release trailer.
TO ORDER CLICK HERE TO GO TO THE BOOK STORE! It is also available wherever books are sold.
It does a great job of telling the story. Back to our regularly scheduled programming.
Here is one concern I have with the $EURUSD Chart. There have been some major issues around this trend line. Eventually the Euro should break out without causing a problem, but the trend line touches suggest being aware of potential problems. One interesting point is the chart topped out early 2014, but Oil imploded later in 2014 as an example.
Anyway, there is a lot more in this week's Commodities Countdown Video. I discuss the currencies and work through the commodities in the second half.
The reviews are coming in for Stock Charts For Dummies:
"I'm just a few chapters in so far and I'm loving it. I got used to looking at the same chart format for years and by just making some small changes and adding a couple things, wow! I see where I could have made/saved more money. The book has really changed my perspective, short-term and long-term.
"I have been a Stockcharts member for several years. There are many things I did not know, or now know in more depth. Although I am trained in fundamental analysis, I now feel there is no substitute for the information you can discern about money and how it is moving that technical analysis provides. Volume and price pierce many a market veil. Using Greg's excellent book, and the tips and tricks ("I didn't know Stockcharts could do that!") there are lots of new ways to "follow the money."
"One particularly useful analysis came out of the well organized ... Section 2 "Viewing the Money Trail Through Different Lenses." "
"Written by an experienced technical analyst, this book shows swing, position and longterm traders how to use Stockcharts.com to analyze the market and find stocks with the best potential for significant gains. Not for day traders. Contains lots of excellent information that is worth much more than the price of this book."
Available through the StockCharts.com bookstore or wherever books are sold.
Greg Schnell, CMT, MFTA.